Morgan Stanley Analysts Give Kraft Heinz (NASDAQ:KHC) a $32.00 Price Target

Morgan Stanley set a $32.00 price target on Kraft Heinz (NASDAQ:KHC) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Kraft Heinz from a strong sell rating to a hold rating in a research report on Wednesday, April 24th. Guggenheim cut shares of Kraft Heinz from a neutral rating to a sell rating and dropped their price target for the company from $29.00 to $25.00 in a research report on Friday. Piper Jaffray Companies upgraded shares of Kraft Heinz from an underweight rating to a neutral rating and set a $31.00 price target for the company in a research report on Friday, May 31st. BidaskClub upgraded shares of Kraft Heinz from a sell rating to a hold rating in a research report on Friday, August 2nd. Finally, Bank of America set a $32.00 price target on shares of Kraft Heinz and gave the company a neutral rating in a research report on Friday. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $36.45.

KHC stock traded down $0.21 during trading on Friday, reaching $26.29. 14,566,374 shares of the stock were exchanged, compared to its average volume of 10,329,071. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $30.77. Kraft Heinz has a 1 year low of $25.74 and a 1 year high of $61.68. The stock has a market cap of $34.43 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.74.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, August 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.07 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. Kraft Heinz’s quarterly revenue was down 5.5% compared to the same quarter last year. Sell-side analysts expect that Kraft Heinz will post 2.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio (DPR) is currently 45.33%.

Hedge funds have recently made changes to their positions in the stock. Parsons Capital Management Inc. RI lifted its stake in Kraft Heinz by 3.3% in the first quarter. Parsons Capital Management Inc. RI now owns 10,387 shares of the company’s stock worth $339,000 after acquiring an additional 334 shares during the last quarter. Trust Co. of Vermont lifted its stake in Kraft Heinz by 1.2% in the first quarter. Trust Co. of Vermont now owns 29,613 shares of the company’s stock worth $967,000 after acquiring an additional 343 shares during the last quarter. AGF Investments America Inc. lifted its stake in Kraft Heinz by 1.8% in the second quarter. AGF Investments America Inc. now owns 19,364 shares of the company’s stock worth $601,000 after acquiring an additional 350 shares during the last quarter. Investment Management of Virginia LLC lifted its stake in Kraft Heinz by 5.3% in the second quarter. Investment Management of Virginia LLC now owns 7,006 shares of the company’s stock worth $217,000 after acquiring an additional 350 shares during the last quarter. Finally, Close Asset Management Ltd lifted its stake in Kraft Heinz by 6.4% in the second quarter. Close Asset Management Ltd now owns 6,003 shares of the company’s stock worth $186,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 58.00% of the company’s stock.

About Kraft Heinz

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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