Piper Sandler Reiterates "Neutral" Rating for Kraft Heinz (NASDAQ:KHC)

Piper Sandler reissued their neutral rating on shares of Kraft Heinz (NASDAQ:KHC - Free Report) in a research report released on Tuesday morning, MarketBeat reports. The brokerage currently has a $35.00 price objective on the stock, down from their previous price objective of $40.00.

KHC has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Barclays dropped their target price on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Kraft Heinz has a consensus rating of "Hold" and an average price target of $36.55.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $0.51 during trading on Tuesday, hitting $30.56. 9,803,056 shares of the company traded hands, compared to its average volume of 7,886,765. The stock has a market capitalization of $36.95 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 3.56 and a beta of 0.49. Kraft Heinz has a one year low of $30.40 and a one year high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The business's fifty day moving average is $34.43 and its 200-day moving average is $34.38.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.42 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's payout ratio is 144.14%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 168,195 shares of the company's stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KHC. Fortitude Family Office LLC lifted its position in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock worth $26,000 after purchasing an additional 529 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Kraft Heinz in the 1st quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock worth $31,000 after acquiring an additional 797 shares during the last quarter. Finally, Asset Dedication LLC lifted its stake in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

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.