The Kraft Heinz Company (KHC) Given “Neutral” Rating at Susquehanna Bancshares Inc

Susquehanna Bancshares Inc reiterated their neutral rating on shares of The Kraft Heinz Company (NASDAQ:KHC) in a report released on Wednesday morning. Susquehanna Bancshares Inc currently has a $85.00 price objective on the stock, down from their prior price objective of $94.00.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada set a $96.00 target price on shares of The Kraft Heinz and gave the stock a buy rating in a research note on Saturday, June 3rd. Zacks Investment Research raised shares of The Kraft Heinz from a sell rating to a hold rating in a research note on Thursday, July 20th. J P Morgan Chase & Co reaffirmed an overweight rating and issued a $99.00 target price (down from $102.00) on shares of The Kraft Heinz in a research note on Wednesday, June 28th. Consumer Edge raised shares of The Kraft Heinz to an overweight rating in a research note on Thursday, May 4th. Finally, TheStreet raised shares of The Kraft Heinz from a c rating to a b- rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $97.45.

The Kraft Heinz (NASDAQ:KHC) traded up 0.68% on Wednesday, hitting $86.47. 2,539,485 shares of the stock traded hands. The Kraft Heinz has a 12-month low of $79.69 and a 12-month high of $97.77. The stock has a market cap of $105.34 billion, a P/E ratio of 27.71 and a beta of 0.44. The stock has a 50-day moving average price of $86.07 and a 200 day moving average price of $89.76.

The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ 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 the consensus estimate of $6.73 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that The Kraft Heinz will post $3.24 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “[[title]]” was first posted by [[site]] and is the property of of [[site]]. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at [[permalink]].

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.625 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.50 dividend on an annualized basis and a yield of 2.89%. This is a boost from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s payout ratio is currently 76.68%.

A number of hedge funds and other institutional investors have recently modified their holdings of KHC. BlackRock Inc. boosted its position in shares of The Kraft Heinz by 2,314.8% in the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after buying an additional 31,204,852 shares in the last quarter. Morgan Stanley boosted its position in shares of The Kraft Heinz by 55.6% in the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after buying an additional 2,988,664 shares in the last quarter. FMR LLC boosted its position in shares of The Kraft Heinz by 30.0% in the second quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after buying an additional 2,659,846 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after buying an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of The Kraft Heinz during the second quarter worth about $102,151,000. Hedge funds and other institutional investors own 62.01% of the company’s stock.

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.