Kraft Heinz (NASDAQ:KHC) Price Target Cut to $32.00 by Analysts at JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $36.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.33% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Jefferies Financial Group cut their price objective on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus cut their price objective on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average price target of $34.07.

Kraft Heinz Stock Down 1.5 %

NASDAQ KHC traded down $0.46 during trading hours on Friday, reaching $29.81. 2,831,465 shares of the company traded hands, compared to its average volume of 8,769,704. The company has a 50 day moving average of $30.45 and a two-hundred day moving average of $33.05. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 12 month low of $28.37 and a 12 month high of $38.96. The stock has a market capitalization of $36.05 billion, a PE ratio of 26.84, a PEG ratio of 3.80 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Kraft Heinz will post 3 earnings per share for the current year.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC increased its holdings in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the period. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz during the 3rd quarter worth about $27,000. Sawyer & Company Inc acquired a new position in Kraft Heinz during the 4th quarter worth about $25,000. DiNuzzo Private Wealth Inc. lifted its position in Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the period. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz in the 3rd quarter valued at about $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.