The Kraft Heinz Company (KHC) to Issue Quarterly Dividend of $0.40 on June 28th

The Kraft Heinz Company (NASDAQ:KHC) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Shareholders of record on Thursday, June 6th will be paid a dividend of 0.40 per share on Friday, June 28th. This represents a $1.60 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Thursday, June 6th.

Kraft Heinz has a payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kraft Heinz to earn $3.19 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 50.2%.

Kraft Heinz Stock Up 1.2 %

Shares of KHC stock opened at $36.72 on Friday. Kraft Heinz has a 12 month low of $30.68 and a 12 month high of $41.47. The stock has a market cap of $44.64 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.88 and a beta of 0.65. The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $36.34 and a two-hundred day simple moving average of $35.75.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, research analysts expect that Kraft Heinz will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

KHC has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Finally, Bank of America upped their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.57.

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.