The Kraft Heinz Company (KHC) Given Average Recommendation of “Buy” by Brokerages

The Kraft Heinz Company (NASDAQ:KHC) has received an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $94.41.

A number of brokerages recently commented on KHC. Zacks Investment Research upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. TheStreet upgraded shares of The Kraft Heinz from a “c” rating to a “b-” rating in a research report on Thursday, August 3rd. Susquehanna Bancshares Inc restated a “neutral” rating and set a $85.00 target price (down previously from $94.00) on shares of The Kraft Heinz in a research report on Wednesday, August 9th. J P Morgan Chase & Co restated an “overweight” rating and set a $99.00 target price (down previously from $102.00) on shares of The Kraft Heinz in a research report on Wednesday, June 28th. Finally, Berenberg Bank set a $102.00 target price on shares of The Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, August 7th.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Chip Partners Inc. boosted its position in shares of The Kraft Heinz by 0.5% during the 1st quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after acquiring an additional 8 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of The Kraft Heinz by 0.5% during the 2nd quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock worth $234,000 after acquiring an additional 13 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of The Kraft Heinz by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock worth $209,000 after acquiring an additional 16 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of The Kraft Heinz by 0.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock worth $329,000 after acquiring an additional 17 shares in the last quarter. Finally, National Asset Management Inc. boosted its position in shares of The Kraft Heinz by 0.5% during the 1st quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock worth $408,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 61.76% of the company’s stock.

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Shares of The Kraft Heinz (KHC) traded down 0.57% during midday trading on Wednesday, hitting $77.10. The stock had a trading volume of 3,279,414 shares. The firm has a market capitalization of $93.93 billion, a PE ratio of 24.71 and a beta of 0.44. The company’s 50 day moving average price is $79.42 and its 200-day moving average price is $86.28. The Kraft Heinz has a 1-year low of $76.67 and a 1-year high of $97.77.

The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The Kraft Heinz’s quarterly revenue was down 1.7% on a year-over-year basis. Equities analysts predict that The Kraft Heinz will post $3.24 earnings per share for the current year.

About The Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

Analyst Recommendations for The Kraft Heinz (NASDAQ:KHC)

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