Kraft Heinz (NASDAQ:KHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, December 29th.
According to Zacks, “Kraft Heinz’s cost savings have led to better profits amid a soft sales environment. The company expects between $1.7 billion and $1.8 billion of cumulative Integration Program savings by the end of 2017, primarily focused on work-force reductions, factory closures and consolidations. Also, with growing awareness of the nutritional value of food products, the company is emphasizing on organic ingredients, reshaping its existing products and expanding into new categories. However, continued softness in sales weighed on the company’s performance leading to its shares losing 9.1% year to date, more than its industry loss of 4.9%. Also, the trend in current quarter and year earnings estimate revisions is not satisfactory as it has remained stable over the past 30 days.”
Other equities research analysts have also issued research reports about the stock. Morgan Stanley decreased their target price on shares of Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Citigroup cut their price target on shares of Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Susquehanna Bancshares cut their price target on shares of Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Finally, Goldman Sachs Group downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the company from $95.00 to $87.00 in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Kraft Heinz presently has an average rating of “Buy” and an average target price of $92.49.
Kraft Heinz (NASDAQ KHC) opened at $77.35 on Friday. Kraft Heinz has a 52 week low of $75.21 and a 52 week high of $97.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43. The company has a market cap of $94,230.00 and a P/E ratio of 24.10.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 EPS for the quarter, hitting analysts’ consensus estimates of $0.83. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. analysts forecast that Kraft Heinz will post 3.61 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Westside Investment Management Inc. boosted its position in Kraft Heinz by 16.6% in the second quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock valued at $100,000 after buying an additional 172 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Kraft Heinz by 287.9% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock valued at $110,000 after buying an additional 950 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Kraft Heinz in the second quarter valued at about $121,000. Blue Chip Partners Inc. boosted its position in Kraft Heinz by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock valued at $127,000 after buying an additional 8 shares in the last quarter. Finally, GWM Advisors LLC acquired a new position in Kraft Heinz in the second quarter valued at about $137,000. Institutional investors own 62.02% of the company’s stock.
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About 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.
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