BidaskClub Lowers Kraft Heinz (KHC) to Sell

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BidaskClub cut shares of Kraft Heinz (NASDAQ:KHC) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other research analysts have also recently issued reports on the company. Credit Suisse Group cut Kraft Heinz from an outperform rating to a sell rating and increased their price objective for the stock from $77.00 to $90.00 in a research report on Monday, April 16th. Morgan Stanley set a $73.00 target price on Kraft Heinz and gave the company a buy rating in a report on Wednesday, April 18th. Zacks Investment Research raised Kraft Heinz from a sell rating to a hold rating in a report on Friday, April 20th. Royal Bank of Canada reaffirmed a buy rating and set a $77.00 price objective on shares of Kraft Heinz in a research note on Tuesday, April 24th. Finally, ValuEngine lowered Kraft Heinz from a sell rating to a strong sell rating in a research note on Wednesday, May 2nd. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $75.25.

Shares of Kraft Heinz traded down $0.35, hitting $59.65, during trading hours on Friday, Marketbeat.com reports. 5,094,097 shares of the company were exchanged, compared to its average volume of 6,117,178. Kraft Heinz has a 1 year low of $54.11 and a 1 year high of $87.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70. The stock has a market capitalization of $73.15 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.59.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The business had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. equities research analysts anticipate that Kraft Heinz will post 3.72 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.625 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 4.19%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.

In other news, EVP Eduardo Pelleissone sold 35,000 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. Corporate insiders own 26.81% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC raised its position in Kraft Heinz by 25.9% in the 1st quarter. Global X Management Co. LLC now owns 6,701 shares of the company’s stock worth $417,000 after purchasing an additional 1,380 shares during the period. HL Financial Services LLC grew its holdings in Kraft Heinz by 16.0% in the 1st quarter. HL Financial Services LLC now owns 91,281 shares of the company’s stock worth $5,686,000 after acquiring an additional 12,608 shares during the last quarter. FDx Advisors Inc. grew its holdings in Kraft Heinz by 50.2% in the 1st quarter. FDx Advisors Inc. now owns 10,654 shares of the company’s stock worth $664,000 after acquiring an additional 3,563 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Kraft Heinz in the 1st quarter worth $4,628,000. Finally, Daiwa Securities Group Inc. grew its holdings in Kraft Heinz by 11.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 20,246 shares of the company’s stock worth $1,261,000 after acquiring an additional 2,052 shares during the last quarter. 62.39% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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