Kraft Heinz (NASDAQ:KHC) Price Target Cut to $41.00 by Analysts at Piper Sandler

Kraft Heinz (NASDAQ:KHC) had its price target lowered by equities research analysts at Piper Sandler from $42.00 to $41.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 25.50% from the stock’s previous close.

KHC has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upped their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America upped their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Kraft Heinz Trading Down 0.8 %

NASDAQ:KHC opened at $32.67 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. Kraft Heinz has a one year low of $30.68 and a one year high of $38.96. The business’s 50-day simple moving average is $35.76 and its 200 day simple moving average is $36.21. The stock has a market cap of $39.67 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.63 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Kraft Heinz’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. Capital World Investors grew its holdings in shares of Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Kraft Heinz by 86.0% during the 3rd quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after purchasing an additional 2,140,153 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kraft Heinz by 346.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after purchasing an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after purchasing an additional 1,027,636 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Kraft Heinz by 7.2% during the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Institutional investors and hedge funds 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.