Kraft Heinz (KHC) Cut to Hold at Argus

Kraft Heinz (NASDAQ:KHC) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, February 26th, MarketBeat.com reports. They currently have a $34.35 price objective on the stock. Argus’ price target indicates a potential upside of 6.38% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Standpoint Research started coverage on Kraft Heinz in a report on Wednesday, December 26th. They issued a “buy” rating on the stock. Berenberg Bank set a $64.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Tuesday, November 20th. Bank of America set a $83.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Friday, November 2nd. UBS Group set a $65.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Friday, November 2nd. Finally, Piper Jaffray Companies set a $62.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.35.

NASDAQ KHC traded down $0.46 during mid-day trading on Tuesday, hitting $32.29. The stock had a trading volume of 12,010,544 shares, compared to its average volume of 23,925,520. Kraft Heinz has a 52-week low of $31.53 and a 52-week high of $64.99. The company has a market capitalization of $39.38 billion, a P/E ratio of 9.15, a PEG ratio of 2.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.22 and a quick ratio of 0.86.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, February 21st. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.10). Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The company 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 posted $0.90 EPS. Kraft Heinz’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts expect that Kraft Heinz will post 2.94 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Kraft Heinz by 2.5% in the third quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock valued at $2,560,246,000 after acquiring an additional 1,123,288 shares during the period. Vanguard Group Inc boosted its stake in Kraft Heinz by 2.5% in the third quarter. Vanguard Group Inc now owns 46,457,007 shares of the company’s stock valued at $2,560,246,000 after acquiring an additional 1,123,288 shares during the period. BlackRock Inc. boosted its stake in Kraft Heinz by 2.8% in the fourth quarter. BlackRock Inc. now owns 37,036,208 shares of the company’s stock valued at $1,594,037,000 after acquiring an additional 999,937 shares during the period. Morgan Stanley boosted its stake in Kraft Heinz by 3.9% in the third quarter. Morgan Stanley now owns 12,113,755 shares of the company’s stock valued at $667,589,000 after acquiring an additional 451,572 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Kraft Heinz by 6,999.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,500,383 shares of the company’s stock valued at $244,000 after acquiring an additional 10,352,489 shares during the period. 61.76% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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