Deutsche Bank Aktiengesellschaft Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $39.00

Kraft Heinz (NASDAQ:KHC) had its target price decreased by Deutsche Bank Aktiengesellschaft from $43.00 to $39.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

KHC has been the subject of several other reports. Evercore ISI dropped their target price on Kraft Heinz from $42.00 to $38.00 and set an overweight rating for the company in a research report on Wednesday. Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, July 10th. Citigroup decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Barclays lowered their price objective on Kraft Heinz from $36.00 to $34.00 and set an equal weight rating for the company in a research report on Friday, July 19th. Finally, Wells Fargo & Company lowered their price objective on Kraft Heinz from $37.00 to $34.00 and set an equal weight rating for the company in a research report on Thursday, June 27th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of Hold and a consensus target price of $37.58.

Kraft Heinz Stock Up 1.9 %

Shares of NASDAQ:KHC opened at $36.06 on Wednesday. The company has a market capitalization of $43.60 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 3.52 and a beta of 0.53. The company has a current ratio of 1.01, a quick ratio of 0.61 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $33.34 and a 200 day moving average price of $35.31. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Sell-side analysts expect that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KHC. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new stake in Kraft Heinz in the 1st quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Kraft Heinz in the 4th quarter worth about $32,000. Hantz Financial Services Inc. acquired a new stake in Kraft Heinz in the 2nd quarter worth about $34,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Kraft Heinz in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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.