Kraft Heinz (NASDAQ:KHC) was downgraded by stock analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, February 5th, Marketbeat Ratings reports. They currently have a $52.00 target price on the stock, down from their previous target price of $58.00. Deutsche Bank’s target price would indicate a potential upside of 60.49% from the stock’s current price.
KHC has been the subject of a number of other research reports. Morgan Stanley set a $49.00 price objective on shares of Kraft Heinz and gave the company a “sell” rating in a report on Wednesday, November 7th. ValuEngine upgraded shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Bank of America set a $83.00 price target on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Friday, November 2nd. Berenberg Bank set a $64.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Finally, Piper Jaffray Companies set a $62.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, November 2nd. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Kraft Heinz has an average rating of “Hold” and an average price target of $46.59.
KHC stock traded down $0.79 during midday trading on Tuesday, hitting $32.40. 20,782,250 shares of the stock traded hands, compared to its average volume of 5,921,315. Kraft Heinz has a 1-year low of $31.82 and a 1-year high of $67.95. The firm has a market cap of $42.62 billion, a PE ratio of 9.18, a P/E/G ratio of 1.71 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.00.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, February 21st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.10). Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.52%. The company had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts predict that Kraft Heinz will post 3.05 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of KHC. FMR LLC lifted its stake in shares of Kraft Heinz by 34.4% in the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after buying an additional 2,111,198 shares in the last quarter. Cerebellum GP LLC purchased a new position in Kraft Heinz in the 3rd quarter worth about $175,000. Cobiz Wealth LLC increased its stake in Kraft Heinz by 1.8% in the 3rd quarter. Cobiz Wealth LLC now owns 50,987 shares of the company’s stock worth $2,810,000 after purchasing an additional 920 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Kraft Heinz by 1.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 101,097 shares of the company’s stock worth $5,569,000 after purchasing an additional 1,646 shares in the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in Kraft Heinz during the 3rd quarter valued at about $788,000. Institutional investors own 62.30% 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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