The Kraft Heinz Company to Issue Quarterly Dividend of $0.40 (NASDAQ:KHC)

The Kraft Heinz Company (NASDAQ:KHC - Get Free Report) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.40 per share on Friday, December 27th. This represents a $1.60 annualized dividend and a yield of 4.74%.

Kraft Heinz has a payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kraft Heinz to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 51.0%.

Kraft Heinz Trading Down 3.1 %

Shares of KHC traded down $1.07 during trading hours on Wednesday, hitting $33.73. The company had a trading volume of 14,100,812 shares, compared to its average volume of 7,773,643. The firm has a market cap of $40.96 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.48 and a beta of 0.49. Kraft Heinz has a 52-week low of $31.08 and a 52-week high of $38.96. The stock's 50 day moving average price is $35.27 and its 200 day moving average price is $34.87. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The business's quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that Kraft Heinz will post 3.01 EPS for the current year.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KHC shares. Stifel Nicolaus downgraded Kraft Heinz from a "buy" rating to a "hold" rating and reduced their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. The Goldman Sachs Group began coverage on Kraft Heinz in a report on Monday, August 12th. They set a "sell" rating and a $34.00 price target on the stock. Barclays raised their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup reduced their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of "Hold" and a consensus price target of $37.58.

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.