Kraft Heinz (NASDAQ:KHC) Stock Rating Lowered by Sanford C. Bernstein

Sanford C. Bernstein lowered shares of Kraft Heinz (NASDAQ:KHC - Free Report) from an outperform rating to a market perform rating in a report released on Tuesday morning, MarketBeat reports. Sanford C. Bernstein currently has $31.00 target price on the stock, down from their previous target price of $34.00.

A number of other research analysts have also recently weighed in on KHC. Wells Fargo & Company dropped 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 note on Thursday, February 13th. 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 research note on Monday, February 10th. Piper Sandler reduced their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.69.

Kraft Heinz Stock Performance

Shares of KHC stock traded down $0.15 during trading on Tuesday, hitting $29.49. The company's stock had a trading volume of 8,152,654 shares, compared to its average volume of 9,076,860. The business has a fifty day moving average of $30.07 and a 200-day moving average of $30.92. The company has a market cap of $35.19 billion, a PE ratio of 13.05, a P/E/G ratio of 3.39 and a beta of 0.44. Kraft Heinz has a 52 week low of $27.25 and a 52 week high of $38.72. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. As a group, research analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.43%. Kraft Heinz's dividend payout ratio (DPR) is presently 70.80%.

Hedge Funds Weigh In On Kraft Heinz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. Deseret Mutual Benefit Administrators boosted its position in shares of Kraft Heinz by 8.8% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 6,308 shares of the company's stock valued at $192,000 after acquiring an additional 510 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Kraft Heinz in the first quarter valued at approximately $51,000. Kendall Capital Management lifted its position in Kraft Heinz by 3.2% during the first quarter. Kendall Capital Management now owns 82,065 shares of the company's stock valued at $2,497,000 after purchasing an additional 2,540 shares during the last quarter. Amalgamated Bank grew its stake in Kraft Heinz by 0.9% in the 1st quarter. Amalgamated Bank now owns 171,575 shares of the company's stock worth $5,221,000 after buying an additional 1,494 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Kraft Heinz by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,703,744 shares of the company's stock worth $82,275,000 after buying an additional 15,495 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

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.