Kraft Heinz (NASDAQ:KHC) Price Target Cut to $31.00 by Analysts at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC - Free Report) had its target price trimmed by Wells Fargo & Company from $35.00 to $31.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

KHC has been the topic of several other research reports. Citigroup decreased their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Barclays lowered their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a report on Thursday, October 31st. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Evercore ISI reiterated an "in-line" rating and issued a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $35.91.

Kraft Heinz Price Performance

KHC traded down $0.28 during trading on Tuesday, reaching $29.77. 8,222,821 shares of the company traded hands, compared to its average volume of 8,241,134. The company has a market cap of $36.00 billion, a P/E ratio of 26.82, a PEG ratio of 3.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. Kraft Heinz has a 12-month low of $29.71 and a 12-month high of $38.96. The firm has a fifty day simple moving average of $31.59 and a 200 day simple moving average of $33.43.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 EPS 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 firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the company earned $0.72 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Kraft Heinz will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Friday, November 29th. Kraft Heinz's payout ratio is currently 144.14%.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently modified their holdings of KHC. Charles Schwab Investment Management Inc. increased its holdings in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock valued at $186,350,000 after purchasing an additional 545,504 shares in the last quarter. Clifford Capital Partners LLC increased its holdings in Kraft Heinz by 21.4% in the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company's stock valued at $14,656,000 after buying an additional 80,101 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Kraft Heinz by 52.5% in the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company's stock worth $5,988,000 after acquiring an additional 58,665 shares during the period. Easterly Investment Partners LLC boosted its stake in shares of Kraft Heinz by 39.4% during the 3rd quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company's stock worth $5,529,000 after acquiring an additional 44,485 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Kraft Heinz by 1,760.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company's stock valued at $23,008,000 after acquiring an additional 620,096 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

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.