The Kraft Heinz Company (NASDAQ:KHC) Plans $0.40 Quarterly Dividend

The Kraft Heinz Company (NASDAQ:KHC) declared a quarterly dividend on Wednesday, October 30th,RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.40 per share on Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Friday, November 29th.

Kraft Heinz has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kraft Heinz to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 52.1%.

Kraft Heinz Stock Down 0.1 %

Shares of KHC opened at $31.93 on Thursday. The business’s 50 day simple moving average is $33.89 and its 200-day simple moving average is $34.17. 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 company has a market capitalization of $38.61 billion, a P/E ratio of 28.77, a PEG ratio of 3.66 and a beta of 0.49. Kraft Heinz has a one year low of $30.40 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, sell-side analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction on 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 owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on KHC shares. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. The Goldman Sachs Group cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Barclays reduced their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $36.55.

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.