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

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

A number of other research firms have also recently issued reports on KHC. Mizuho cut Kraft Heinz from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $38.00 to $31.00 in a research report on Monday, February 10th. Piper Sandler decreased their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.86.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded up $0.40 on Friday, reaching $29.32. 11,782,597 shares of the stock were exchanged, compared to its average volume of 9,966,394. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The firm has a market cap of $35.45 billion, a PE ratio of 26.41, a P/E/G ratio of 3.74 and a beta of 0.47. The firm's 50 day moving average is $29.85 and its 200-day moving average is $32.67. Kraft Heinz has a one year low of $27.25 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its 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, analysts anticipate that Kraft Heinz will post 3 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.46%. Kraft Heinz's payout ratio is 144.14%.

Hedge Funds Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AMF Tjanstepension AB lifted its position in shares of Kraft Heinz by 143.4% in the 3rd quarter. AMF Tjanstepension AB now owns 245,522 shares of the company's stock worth $8,620,000 after purchasing an additional 144,646 shares during the period. CX Institutional acquired a new position in Kraft Heinz in the third quarter valued at $340,000. SPC Financial Inc. lifted its holdings in Kraft Heinz by 6.3% in the third quarter. SPC Financial Inc. now owns 13,835 shares of the company's stock valued at $486,000 after buying an additional 825 shares during the period. Bfsg LLC bought a new stake in Kraft Heinz during the third quarter valued at $1,476,000. Finally, Bleakley Financial Group LLC grew its holdings in Kraft Heinz by 4.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 18,870 shares of the company's stock worth $663,000 after acquiring an additional 758 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.