Kraft Heinz (NASDAQ:KHC) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Friday, February 22nd, Marketbeat reports. They currently have a $39.00 target price on the stock. Bank of America‘s price objective suggests a potential upside of 21.80% from the stock’s current price.
Several other research firms have also recently weighed in on KHC. UBS Group set a $65.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, November 2nd. Piper Jaffray Companies set a $62.00 target price on shares of Kraft Heinz and gave the stock a “buy” rating in a research note on Friday, November 2nd. Susquehanna Bancshares reissued a “negative” rating and set a $47.00 target price (down from $59.00) on shares of Kraft Heinz in a research note on Friday, November 2nd. Morgan Stanley set a $49.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a research note on Wednesday, November 7th. Finally, Royal Bank of Canada cut their target price on shares of Kraft Heinz to $68.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $45.35.
Shares of NASDAQ KHC opened at $32.02 on Friday. Kraft Heinz has a 52-week low of $31.53 and a 52-week high of $64.99. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $39.06 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.58.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, February 21st. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.10). Kraft Heinz had a positive return on equity of 6.89% and a negative net margin of 38.95%. The firm had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts expect that Kraft Heinz will post 2.94 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Highwater Wealth Management LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $28,000. Creative Financial Designs Inc. ADV increased its holdings in Kraft Heinz by 114.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 634 shares of the company’s stock worth $27,000 after buying an additional 339 shares during the last quarter. Veritas Investment Management LLP purchased a new stake in Kraft Heinz during the fourth quarter worth about $28,000. Gradient Investments LLC increased its holdings in Kraft Heinz by 54.2% during the fourth quarter. Gradient Investments LLC now owns 717 shares of the company’s stock worth $31,000 after buying an additional 252 shares during the last quarter. Finally, We Are One Seven LLC purchased a new stake in Kraft Heinz during the fourth quarter worth about $38,000. Institutional investors own 61.76% 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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