Kraft Heinz (NASDAQ:KHC) Reaches New 52-Week Low Following Analyst Downgrade

The Kraft Heinz Company (NASDAQ:KHC) reached a new 52-week low on Tuesday after Wells Fargo & Company lowered their price target on the stock from $35.00 to $31.00. Wells Fargo & Company currently has an equal weight rating on the stock. Kraft Heinz traded as low as $29.97 and last traded at $30.13, with a volume of 800986 shares. The stock had previously closed at $30.05.

Several other research firms have also issued reports on KHC. Mizuho reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Barclays reduced their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.91.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC increased its stake in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the period. Bangor Savings Bank acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $33,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.5 %

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 50-day moving average of $31.59 and a 200 day moving average of $33.43. The company has a market cap of $36.52 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

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.