Heinz (NASDAQ:KHC)’s share price reached a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $56.63 and last traded at $56.33, with a volume of 4800560 shares trading hands. The stock had previously closed at $57.68.
Several research firms have issued reports on KHC. Royal Bank of Canada reiterated a “buy” rating and issued a $77.00 target price on shares of Heinz in a research note on Tuesday. Zacks Investment Research upgraded Heinz from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley set a $73.00 target price on Heinz and gave the company a “buy” rating in a research note on Wednesday, April 18th. Credit Suisse Group lowered Heinz from an “outperform” rating to a “sell” rating and lifted their target price for the company from $77.00 to $90.00 in a research note on Monday, April 16th. Finally, Bank of America cut their target price on Heinz from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 3rd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Heinz presently has an average rating of “Hold” and a consensus price target of $82.67.
The company has a debt-to-equity ratio of 0.43, a current ratio of 0.72 and a quick ratio of 0.44. The firm has a market capitalization of $70,962.96, a price-to-earnings ratio of 15.92, a PEG ratio of 1.59 and a beta of 0.59.
Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.06). Heinz had a return on equity of 7.20% and a net margin of 41.93%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.91 billion. During the same period in the prior year, the business posted $0.08 EPS. Heinz’s revenue was up .3% compared to the same quarter last year. research analysts anticipate that Heinz will post 3.82 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in KHC. We Are One Seven LLC acquired a new stake in shares of Heinz during the fourth quarter worth about $107,000. Rational Advisors LLC acquired a new position in Heinz in the fourth quarter valued at approximately $117,000. Cerebellum GP LLC acquired a new position in Heinz in the fourth quarter valued at approximately $124,000. Oakworth Capital Inc. lifted its holdings in Heinz by 76.5% in the fourth quarter. Oakworth Capital Inc. now owns 1,742 shares of the company’s stock valued at $141,000 after acquiring an additional 755 shares during the period. Finally, Truewealth LLC acquired a new position in Heinz in the fourth quarter valued at approximately $143,000. 63.17% of the stock is owned by hedge funds and other institutional investors.
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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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