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

Kraft Heinz (NASDAQ:KHC)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $35.00 target price on the stock, down from their previous target price of $40.00. Piper Sandler’s price target suggests a potential upside of 13.34% from the company’s current price.

A number of other research analysts have also weighed in on the company. Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Barclays cut their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Finally, Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Price Performance

KHC stock opened at $30.88 on Tuesday. Kraft Heinz has a 1 year low of $30.40 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The stock’s 50 day moving average price is $34.24 and its 200 day moving average price is $34.32. The firm has a market cap of $37.34 billion, a P/E ratio of 27.82, a PEG ratio of 3.56 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Kraft Heinz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the first quarter worth approximately $27,000. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz in the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its position in Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the last quarter. Finally, Bangor Savings Bank acquired a new position in Kraft Heinz in the third quarter worth approximately $32,000. Institutional investors 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.