Kraft Heinz (NASDAQ:KHC)‘s stock had its “negative” rating reiterated by equities researchers at Susquehanna Bancshares in a research report issued on Friday. They presently have a $47.00 price target on the stock, down from their previous price target of $59.00. Susquehanna Bancshares’ target price suggests a potential downside of 16.37% from the stock’s current price.
Several other equities research analysts have also recently weighed in on KHC. BidaskClub cut Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. Bank of America set a $85.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective on shares of Kraft Heinz in a research report on Tuesday, August 7th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Finally, Morgan Stanley initiated coverage on Kraft Heinz in a research report on Monday, September 17th. They issued an “underweight” rating and a $52.00 price objective for the company. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Kraft Heinz has an average rating of “Hold” and a consensus target price of $69.42.
Shares of KHC stock opened at $56.20 on Friday. Kraft Heinz has a 12 month low of $53.03 and a 12 month high of $82.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 1.05. The company has a market cap of $68.10 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.98 and a beta of 0.51.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Kraft Heinz will post 3.69 earnings per share for the current fiscal year.
In related news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total value of $1,234,724,292.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of KHC. Magellan Asset Management Ltd lifted its holdings in shares of Kraft Heinz by 39.6% during the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock valued at $2,112,094,000 after acquiring an additional 9,529,235 shares during the period. FMR LLC lifted its holdings in shares of Kraft Heinz by 34.4% during the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after acquiring an additional 2,111,198 shares during the period. Northern Trust Corp lifted its holdings in shares of Kraft Heinz by 3.3% during the second quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock valued at $452,592,000 after acquiring an additional 230,493 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Kraft Heinz by 39,913.8% during the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after acquiring an additional 3,398,664 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Kraft Heinz by 3.4% during the second quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock valued at $181,612,000 after acquiring an additional 93,997 shares during the period. 63.02% 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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