Kraft Heinz (NASDAQ:KHC) Price Target Cut to $30.00 by Analysts at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its price target lowered by analysts at Wells Fargo & Company from $31.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.49% from the company’s current price.

Several other research firms also recently issued reports on KHC. Stifel Nicolaus cut their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday. UBS Group decreased their target price on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen cut their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Evercore ISI reissued an “in-line” rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $31.93.

Kraft Heinz Stock Up 0.3 %

KHC traded up $0.09 during trading on Thursday, hitting $28.71. The stock had a trading volume of 2,905,193 shares, compared to its average volume of 9,493,048. The stock has a 50 day simple moving average of $29.98 and a two-hundred day simple moving average of $32.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. Kraft Heinz has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a market capitalization of $34.72 billion, a PE ratio of 25.85, a PEG ratio of 3.74 and a beta of 0.47.

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

Hedge Funds Weigh In On Kraft Heinz

Several hedge funds and other institutional investors have recently made changes to their positions in KHC. Aster Capital Management DIFC Ltd acquired a new stake in Kraft Heinz during the 4th quarter worth $118,000. Russell Investments Group Ltd. boosted its position in Kraft Heinz by 115.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,020,501 shares of the company’s stock worth $31,339,000 after acquiring an additional 546,474 shares during the last quarter. Wedbush Securities Inc. grew its stake in Kraft Heinz by 52.1% during the 4th quarter. Wedbush Securities Inc. now owns 28,719 shares of the company’s stock valued at $882,000 after acquiring an additional 9,835 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Kraft Heinz in the 4th quarter valued at about $11,402,000. Finally, Landscape Capital Management L.L.C. lifted its stake in Kraft Heinz by 458.7% in the 4th quarter. Landscape Capital Management L.L.C. now owns 64,106 shares of the company’s stock worth $1,969,000 after purchasing an additional 52,632 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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.