Wells Fargo & Company Lowers Kraft Heinz (NASDAQ:KHC) Price Target to $31.00

Kraft Heinz (NASDAQ:KHC) had its price target dropped by stock analysts at Wells Fargo & Company from $35.00 to $31.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 4.52% from the company’s current price.

A number of other equities research analysts also recently issued reports on KHC. Barclays cut their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus price target of $35.58.

Kraft Heinz Stock Down 0.4 %

Kraft Heinz stock opened at $29.66 on Tuesday. The firm has a market cap of $35.86 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.62 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 12 month low of $29.23 and a 12 month high of $38.96. The stock has a fifty day simple moving average of $31.41 and a two-hundred day simple moving average of $33.38.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Several hedge funds have recently modified their holdings of the company. First Hawaiian Bank grew its position in Kraft Heinz by 7.8% in the fourth quarter. First Hawaiian Bank now owns 11,713 shares of the company’s stock worth $360,000 after acquiring an additional 849 shares in the last quarter. Pensionfund Sabic boosted its holdings in shares of Kraft Heinz by 34.3% in the 4th quarter. Pensionfund Sabic now owns 47,000 shares of the company’s stock worth $1,443,000 after purchasing an additional 12,000 shares during the period. Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Versant Capital Management Inc raised its holdings in Kraft Heinz by 40.7% during the 4th quarter. Versant Capital Management Inc now owns 2,082 shares of the company’s stock valued at $64,000 after buying an additional 602 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Kraft Heinz by 14.4% during the third quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock worth $38,519,000 after buying an additional 138,101 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.