Kraft Heinz (NASDAQ:KHC) Hits New 52-Week Low – What’s Next?

The Kraft Heinz Company (NASDAQ:KHC) hit a new 52-week low on Friday . The company traded as low as $30.98 and last traded at $31.13, with a volume of 1235656 shares trading hands. The stock had previously closed at $31.79.

Analysts Set New Price Targets

KHC has been the subject of several research analyst reports. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Finally, Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market capitalization of $37.15 billion, a PE ratio of 28.17, a P/E/G ratio of 3.67 and a beta of 0.49. The firm has a fifty day moving average price of $34.62 and a 200 day moving average price of $34.52.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.21%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Kraft Heinz

Several large investors have recently made changes to their positions in KHC. IHT Wealth Management LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at $238,000. III Capital Management lifted its position in shares of Kraft Heinz by 44.0% in the third quarter. III Capital Management now owns 20,915 shares of the company’s stock worth $734,000 after buying an additional 6,391 shares during the last quarter. Ingalls & Snyder LLC boosted its stake in shares of Kraft Heinz by 248.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 320,949 shares of the company’s stock worth $11,269,000 after acquiring an additional 228,760 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of Kraft Heinz during the 3rd quarter valued at about $28,374,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Kraft Heinz by 72.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 42,941 shares of the company’s stock valued at $1,508,000 after acquiring an additional 17,973 shares in the last quarter. Institutional investors 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.