Mizuho Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price dropped by research analysts at Mizuho from $43.00 to $41.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 22.42% from the stock’s current price.

KHC has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday. Evercore ISI lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Finally, Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.15.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $33.49 on Thursday. The stock has a 50 day moving average of $35.15 and a 200 day moving average of $34.83. Kraft Heinz has a 12 month low of $31.58 and a 12 month high of $38.96. The firm has a market cap of $40.49 billion, a PE ratio of 30.17, a PEG ratio of 3.30 and a beta of 0.49. The company has a current ratio of 1.06, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, research analysts expect that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after buying an additional 1,778,263 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kraft Heinz by 346.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after buying an additional 1,179,863 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Kraft Heinz by 56.7% in the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after buying an additional 1,027,636 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Kraft Heinz by 260.8% in the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after buying an additional 845,490 shares during the period. 78.17% of the stock is currently 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.