Kraft Heinz (NASDAQ:KHC) Given a $33.00 Price Target at Credit Suisse Group

Kraft Heinz (NASDAQ:KHC) received a $33.00 target price from investment analysts at Credit Suisse Group in a note issued to investors on Friday, February 22nd, The Fly reports. The firm currently has an “underperform” rating on the stock. Credit Suisse Group’s price target indicates a potential upside of 3.06% from the company’s current price.

Other research analysts also recently issued research reports about the company. Berenberg Bank set a $60.00 price objective on Kraft Heinz and gave the company a “buy” rating in a report on Tuesday, January 22nd. JPMorgan Chase & Co. cut Kraft Heinz from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $52.00 to $37.00 in a research report on Friday, February 22nd. BMO Capital Markets decreased their target price on Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 5th. UBS Group cut Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $39.00 in a research report on Friday, February 22nd. Finally, Piper Jaffray Companies cut Kraft Heinz from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $62.00 to $42.00 in a research report on Friday, February 22nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.35.

KHC opened at $32.02 on Friday. Kraft Heinz has a 12-month low of $31.53 and a 12-month high of $64.99. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $39.06 billion, a P/E ratio of 9.07, a PEG ratio of 2.42 and a beta of 0.58.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results 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 company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the company earned $0.90 EPS. Kraft Heinz’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts forecast that Kraft Heinz will post 2.94 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Kraft Heinz by 2.5% during the third quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after purchasing an additional 1,123,288 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Kraft Heinz by 2.5% during the third quarter. Vanguard Group Inc now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after purchasing an additional 1,123,288 shares in the last quarter. BlackRock Inc. increased its position in shares of Kraft Heinz by 2.8% during the fourth quarter. BlackRock Inc. now owns 37,036,208 shares of the company’s stock worth $1,594,037,000 after acquiring an additional 999,937 shares during the last quarter. Morgan Stanley increased its position in shares of Kraft Heinz by 3.9% during the third quarter. Morgan Stanley now owns 12,113,755 shares of the company’s stock worth $667,589,000 after acquiring an additional 451,572 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Kraft Heinz by 6,999.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,500,383 shares of the company’s stock worth $244,000 after acquiring an additional 10,352,489 shares during the last quarter. 61.76% of the stock is owned by institutional investors.

Kraft Heinz Company Profile

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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