Piper Sandler Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price reduced by investment analysts at Piper Sandler from $35.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 7.19% from the company’s current price.

KHC has been the topic of a number of other research reports. The Goldman Sachs Group cut their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday. Jefferies Financial Group lowered their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. TD Cowen lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group lowered their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Price Performance

KHC stock opened at $28.92 on Thursday. The stock has a market capitalization of $34.97 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The company’s 50-day moving average is $29.94 and its 200-day moving average is $32.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. Kraft Heinz has a 1 year low of $27.25 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Equities research analysts expect that Kraft Heinz will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Kraft Heinz

Several large investors have recently modified their holdings of KHC. Vanguard Group Inc. increased its stake in shares of Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Kraft Heinz during the 3rd quarter worth approximately $411,304,000. Norges Bank purchased a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $324,857,000. State Street Corp increased its stake in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Finally, Criteria Caixa S.A.U. purchased a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $73,316,000. Hedge funds and other 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.