Kraft Heinz (NASDAQ:KHC) Given New $29.00 Price Target at Barclays

Kraft Heinz (NASDAQ:KHC) had its target price lowered by Barclays from $33.00 to $29.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on KHC. The Goldman Sachs Group cut their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Thursday. TD Cowen dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $31.00 in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz Price Performance

KHC opened at $28.92 on Friday. The stock’s 50-day moving average price is $29.94 and its 200 day moving average price is $32.77. Kraft Heinz has a 12-month low of $27.25 and a 12-month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm has a market cap of $34.97 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 3.74 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. As a group, sell-side analysts expect that Kraft Heinz will post 3 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.53%. Kraft Heinz’s payout ratio is 144.14%.

Institutional Trading of Kraft Heinz

A number of hedge funds have recently added to or reduced their stakes in KHC. Trust Co. of Vermont lifted its holdings in shares of Kraft Heinz by 3.6% in the 3rd quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock valued at $365,000 after buying an additional 358 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after buying an additional 361 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Kraft Heinz by 5.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock valued at $223,000 after buying an additional 366 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Kraft Heinz by 1.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock valued at $1,097,000 after buying an additional 370 shares during the period. Finally, Winch Advisory Services LLC lifted its holdings in shares of Kraft Heinz by 20.1% in the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock valued at $70,000 after buying an additional 380 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.