Piper Sandler Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target reduced by equities research analysts at Piper Sandler from $35.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 7.19% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price target for the company from $36.00 to $30.00 in a report on Thursday. TD Cowen lowered their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group lowered their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Stock Down 1.1 %

KHC opened at $28.92 on Thursday. The company has a 50 day moving average of $29.94 and a 200 day moving average of $32.77. The company has a market cap of $34.97 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. Kraft Heinz has a 12 month low of $27.25 and a 12 month high of $38.96. 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 (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. On average, sell-side analysts expect that Kraft Heinz will post 3 EPS for the current year.

Hedge Funds Weigh In On Kraft Heinz

A number of hedge funds have recently modified their holdings of KHC. AMF Tjanstepension AB increased its position in shares of Kraft Heinz by 143.4% in the third quarter. AMF Tjanstepension AB now owns 245,522 shares of the company’s stock valued at $8,620,000 after acquiring an additional 144,646 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Kraft Heinz by 221.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company’s stock valued at $36,000 after acquiring an additional 700 shares during the period. CX Institutional purchased a new position in shares of Kraft Heinz in the third quarter valued at about $340,000. Wesbanco Bank Inc. increased its position in shares of Kraft Heinz by 17.3% in the third quarter. Wesbanco Bank Inc. now owns 11,281 shares of the company’s stock valued at $396,000 after acquiring an additional 1,665 shares during the period. Finally, Swedbank AB increased its position in shares of Kraft Heinz by 6.9% in the third quarter. Swedbank AB now owns 775,689 shares of the company’s stock valued at $27,234,000 after acquiring an additional 50,063 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.