Goldman Sachs Group, Inc. (The) Lowers The Kraft Heinz Company (KHC) to Neutral

Goldman Sachs Group, Inc. (The) downgraded shares of The Kraft Heinz Company (NASDAQ:KHC) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat reports. The firm currently has $87.00 price target on the stock, down from their prior price target of $95.00.

KHC has been the subject of several other reports. Stifel Nicolaus reiterated a buy rating and issued a $95.00 target price on shares of The Kraft Heinz in a research report on Thursday, September 21st. BidaskClub lowered shares of The Kraft Heinz from a sell rating to a strong sell rating in a research report on Wednesday, July 5th. Credit Suisse Group set a $100.00 target price on shares of The Kraft Heinz and gave the stock a buy rating in a research report on Sunday, September 10th. BMO Capital Markets reiterated a hold rating and issued a $96.00 target price on shares of The Kraft Heinz in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of The Kraft Heinz from a sell rating to a hold rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $96.36.

Shares of The Kraft Heinz (NASDAQ:KHC) traded down 0.09% on Wednesday, hitting $78.18. The stock had a trading volume of 2,355,906 shares. The Kraft Heinz has a 1-year low of $76.76 and a 1-year high of $97.77. The company has a market capitalization of $95.24 billion, a PE ratio of 25.06 and a beta of 0.44. The firm has a 50-day moving average of $79.43 and a 200 day moving average of $79.43.

The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that The Kraft Heinz will post $3.24 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were paid a $0.625 dividend. The ex-dividend date was Wednesday, August 16th. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a yield of 3.20%. The Kraft Heinz’s payout ratio is currently 79.87%.

A number of institutional investors have recently bought and sold shares of KHC. Westside Investment Management Inc. lifted its stake in The Kraft Heinz by 16.6% in the second quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock worth $100,000 after purchasing an additional 172 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of The Kraft Heinz by 287.9% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock valued at $110,000 after acquiring an additional 950 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of The Kraft Heinz during the second quarter valued at about $121,000. V Wealth Management LLC bought a new position in shares of The Kraft Heinz during the second quarter valued at about $125,000. Finally, Blue Chip Partners Inc. raised its stake in shares of The Kraft Heinz by 0.5% during the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock valued at $127,000 after acquiring an additional 8 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

About The Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

Analyst Recommendations for The Kraft Heinz (NASDAQ:KHC)

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