Kraft Heinz (NASDAQ:KHC) PT Raised to $35.00 at Morgan Stanley

Kraft Heinz (NASDAQ:KHC) had its target price hoisted by equities researchers at Morgan Stanley from $32.00 to $35.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 1.80% from the stock’s current price.

KHC has been the subject of several other research reports. Piper Sandler upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $39.00 in a report on Tuesday, July 28th. DZ Bank raised shares of Kraft Heinz from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research report on Tuesday, April 21st. BidaskClub raised shares of Kraft Heinz from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. Guggenheim downgraded shares of Kraft Heinz from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $27.00 to $30.00 in a research report on Thursday, July 23rd. Finally, Bank of America reaffirmed a “buy” rating on shares of Kraft Heinz in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $32.95.

Kraft Heinz stock opened at $34.38 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.09. Kraft Heinz has a 52-week low of $19.99 and a 52-week high of $35.87. The firm has a 50 day moving average price of $32.93 and a two-hundred day moving average price of $29.36. The firm has a market cap of $42.01 billion, a price-to-earnings ratio of -229.20, a PEG ratio of 2.36 and a beta of 1.01.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.15. Kraft Heinz had a negative net margin of 0.76% and a positive return on equity of 6.68%. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter last year, the business earned $0.78 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Kraft Heinz will post 2.56 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Harwood Advisory Group LLC purchased a new stake in Kraft Heinz in the first quarter worth approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Kraft Heinz by 323.5% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,080 shares of the company’s stock valued at $27,000 after purchasing an additional 825 shares during the last quarter. Horizon Bancorp Inc. IN lifted its position in Kraft Heinz by 38.4% in the first quarter. Horizon Bancorp Inc. IN now owns 1,246 shares of the company’s stock valued at $31,000 after purchasing an additional 346 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Kraft Heinz in the second quarter valued at approximately $31,000. Finally, Bartlett & Co. LLC bought a new stake in Kraft Heinz in the first quarter valued at approximately $33,000. 57.72% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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