Kraft Heinz (NASDAQ:KHC) Given New $36.00 Price Target at Barclays

Kraft Heinz (NASDAQ:KHC) had its target price hoisted by analysts at Barclays from $34.00 to $36.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 2.36% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI dropped their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Piper Sandler decreased their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Finally, Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.58.

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC traded down $0.04 on Thursday, reaching $35.17. The company had a trading volume of 5,878,108 shares, compared to its average volume of 7,984,448. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $38.96. The firm’s 50 day simple moving average is $33.35 and its 200-day simple moving average is $35.33. The firm has a market capitalization of $42.71 billion, a PE ratio of 15.35, a PEG ratio of 3.40 and a beta of 0.53. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, analysts expect that Kraft Heinz will post 2.99 earnings per share for the current fiscal year.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC purchased a new position in Kraft Heinz in the fourth quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz in the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Kraft Heinz in the fourth quarter valued at $32,000. Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $38,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.