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

Kraft Heinz (NASDAQ:KHC)‘s stock had its “neutral” rating reaffirmed by stock analysts at Piper Sandler in a report issued on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock, down from their prior price target of $40.00. Piper Sandler’s price objective would suggest a potential upside of 12.65% from the company’s previous close.

A number of other brokerages have also recently weighed in on KHC. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. 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 report on Thursday, October 31st. Barclays cut their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Mizuho cut their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.55.

Kraft Heinz Price Performance

KHC stock opened at $31.07 on Tuesday. Kraft Heinz has a 1 year low of $30.40 and a 1 year high of $38.96. The company has a market cap of $37.57 billion, a P/E ratio of 27.99, a PEG ratio of 3.56 and a beta of 0.49. The firm has a 50-day moving average of $34.43 and a 200 day moving average of $34.38. 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 (NASDAQ:KHC) last released 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 during the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Kraft Heinz will post 3.01 EPS for the current year.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Institutional Trading of Kraft Heinz

A number of institutional investors and hedge funds have recently bought and sold shares of KHC. Fortitude Family Office LLC grew its stake in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the 1st quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz in the 3rd quarter worth $27,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares in the last quarter. Finally, Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

About Kraft Heinz

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.