Piper Sandler Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target lowered by stock analysts at Piper Sandler from $41.00 to $40.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 18.55% from the company’s current price.

A number of other analysts have also commented on the company. Wells Fargo & Company boosted their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Evercore ISI dropped their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $37.31.

Kraft Heinz Stock Up 0.0 %

Shares of Kraft Heinz stock traded up $0.01 during trading on Thursday, reaching $33.74. The stock had a trading volume of 5,252,487 shares, compared to its average volume of 7,761,906. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 3.48 and a beta of 0.49. The stock has a fifty day moving average price of $35.24 and a two-hundred day moving average price of $34.86. Kraft Heinz has a 52 week low of $31.08 and a 52 week high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Sell-side analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently made changes to their positions in KHC. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% during the third 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. acquired a new stake in Kraft Heinz during the first quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its position in Kraft Heinz by 1,077.0% during the third 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. Asset Dedication LLC grew its position in Kraft Heinz by 94.8% during the second 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. Finally, Bangor Savings Bank acquired a new stake in Kraft Heinz during the third quarter worth approximately $32,000. 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.