Kraft Heinz (NASDAQ:KHC) Reaches New 12-Month Low – Time to Sell?

The Kraft Heinz Company (NASDAQ:KHC)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $28.31 and last traded at $28.44, with a volume of 2109879 shares. The stock had previously closed at $28.70.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. TD Cowen decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group cut their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays decreased their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $34.07.

Kraft Heinz Trading Up 1.0 %

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 company’s fifty day moving average is $30.17 and its two-hundred day moving average is $32.91. The company has a market cap of $35.43 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 3.82 and a beta of 0.47.

Institutional Trading of Kraft Heinz

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at approximately $411,304,000. State Street Corp raised its position in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the period. Geode Capital Management LLC lifted its holdings in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at about $39,339,000. Finally, Nordea Investment Management AB raised its position in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. 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.