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

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

KHC has been the subject of several other reports. Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $35.00 in a research note on Thursday. Evercore ISI dropped their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group dropped their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday. Finally, Bank of America dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kraft Heinz has an average rating of “Hold” and an average target price of $37.15.

Kraft Heinz Price Performance

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

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data 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 company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the business earned $0.72 EPS. Kraft Heinz’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Institutional Trading of Kraft Heinz

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC raised its stake in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz during the first quarter worth about $27,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the last quarter. Asset Dedication LLC grew its holdings in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Kraft Heinz during the third quarter worth about $32,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.