Kraft Heinz (NASDAQ:KHC) Earns Neutral Rating from Piper Sandler

Kraft Heinz (NASDAQ:KHC)‘s stock had its “neutral” rating restated by equities research analysts at Piper Sandler in a report released on Tuesday, Marketbeat reports. They presently have a $35.00 price target on the stock, down from their prior price target of $40.00. Piper Sandler’s price target indicates a potential upside of 13.34% from the company’s previous close.

Several other research firms have also recently commented on KHC. JPMorgan Chase & Co. lowered their target price 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. Citigroup lowered their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Trading Up 1.0 %

Shares of NASDAQ KHC opened at $30.88 on Tuesday. Kraft Heinz has a twelve month low of $30.40 and a twelve 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. The stock has a fifty day simple moving average of $34.24 and a 200-day simple moving average of $34.32. The stock has a market capitalization of $37.34 billion, a PE ratio of 27.82, a PEG ratio of 3.56 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released 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. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the firm posted $0.72 EPS. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s 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 transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter worth approximately $411,304,000. State Street Corp grew its holdings in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the period. Capital World Investors grew its holdings in shares of Kraft Heinz by 83.4% in 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. Geode Capital Management LLC grew its holdings in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after acquiring an additional 1,944,019 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 worth $178,379,000 after acquiring an additional 1,778,263 shares during the period. Institutional investors and hedge funds 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.