JPMorgan Chase & Co. Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $36.00 to $32.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.33% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. TD Cowen decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Mizuho decreased their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Evercore ISI reissued an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Piper Sandler reissued a “neutral” rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Finally, Citigroup decreased their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $34.07.

Kraft Heinz Trading Down 1.5 %

Shares of NASDAQ:KHC traded down $0.46 during mid-day trading on Friday, reaching $29.81. The stock had a trading volume of 2,831,465 shares, compared to its average volume of 8,769,704. The firm has a market cap of $36.05 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 3.80 and a beta of 0.48. The firm has a 50 day simple moving average of $30.45 and a two-hundred day simple moving average of $33.05. 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 twelve month low of $28.37 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, research analysts predict that Kraft Heinz will post 3 EPS for the current fiscal year.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated 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 owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Several hedge funds and other institutional investors have recently made changes to their positions in KHC. Sawyer & Company Inc bought a new position in shares of Kraft Heinz during the 4th quarter worth approximately $25,000. Fortitude Family Office LLC boosted its holdings in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $32,000. 78.17% of the stock is currently owned by 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.