Kraft Heinz (NASDAQ:KHC) Price Target Cut to $38.00 by Analysts at Evercore ISI

Kraft Heinz (NASDAQ:KHC) had its price target cut by Evercore ISI from $42.00 to $38.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 10.56% from the company’s current price.

KHC has been the subject of a number of other research reports. Barclays reduced their price objective on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Piper Sandler lowered their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Citigroup reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Finally, Bank of America decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.08.

Kraft Heinz Trading Up 1.6 %

Shares of NASDAQ:KHC opened at $34.37 on Wednesday. The stock’s 50-day moving average is $33.37 and its 200-day moving average is $35.33. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a market cap of $41.74 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.35 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the prior year, the business earned $0.68 earnings per share. Kraft Heinz’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts predict that Kraft Heinz will post 2.99 earnings per share for the current year.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz during the fourth quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz during the 1st quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $32,000. Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $38,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Kraft Heinz during the second quarter worth approximately $34,000. 78.17% of the stock is currently owned by institutional investors.

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.