Kraft Heinz (NASDAQ:KHC) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.
Several other research firms also recently issued reports on KHC. Deutsche Bank downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $58.00 to $52.00 in a report on Tuesday, February 5th. Zacks Investment Research downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub downgraded Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Thursday, February 7th. UBS Group set a $65.00 price target on Kraft Heinz and gave the company a “buy” rating in a report on Friday, November 2nd. Finally, Credit Suisse Group set a $52.00 price target on Kraft Heinz and gave the company a “hold” rating in a report on Friday, November 2nd. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.15.
Kraft Heinz stock opened at $48.18 on Friday. The company has a market cap of $58.85 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.36 and a beta of 0.72. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. Kraft Heinz has a one year low of $41.60 and a one year high of $70.01.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, February 21st. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.10). The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.93 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts expect that Kraft Heinz will post 3.61 EPS for the current year.
A number of hedge funds have recently made changes to their positions in KHC. Oregon Public Employees Retirement Fund boosted its position in Kraft Heinz by 6,999.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,500,383 shares of the company’s stock worth $244,000 after acquiring an additional 10,352,489 shares during the period. FMR LLC boosted its position in Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after acquiring an additional 2,111,198 shares during the period. American International Group Inc. lifted its holdings in shares of Kraft Heinz by 31.0% in the fourth quarter. American International Group Inc. now owns 7,692,416 shares of the company’s stock valued at $331,082,000 after buying an additional 1,821,732 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Kraft Heinz in the third quarter valued at $84,501,000. Finally, Vanguard Group Inc lifted its holdings in shares of 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 buying an additional 1,123,288 shares during the period. Institutional investors own 62.30% of the company’s stock.
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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