Kraft Heinz (NASDAQ:KHC) Price Target Increased to $42.00 by Analysts at Bank of America

Kraft Heinz (NASDAQ:KHC) had its price target lifted by analysts at Bank of America from $40.00 to $42.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 14.79% from the company’s previous close.

A number of other equities research analysts have also commented on KHC. Wells Fargo & Company decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Citigroup assumed coverage on Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average price target of $40.71.

Kraft Heinz Stock Up 0.8 %

Shares of Kraft Heinz stock opened at $36.59 on Monday. The stock’s fifty day moving average is $35.85 and its 200-day moving average is $35.32. The firm has a market capitalization of $44.48 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $41.47.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. Kraft Heinz’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities analysts anticipate that Kraft Heinz will post 3.02 earnings per share for the current year.

Institutional Investors Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after purchasing an additional 183,234 shares during the period. State Street Corp boosted its stake in Kraft Heinz by 4.4% in the first quarter. State Street Corp now owns 33,344,178 shares of the company’s stock worth $1,313,427,000 after purchasing an additional 1,397,795 shares in the last quarter. Invesco Ltd. boosted its stake in Kraft Heinz by 10.7% in the third quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock worth $827,581,000 after purchasing an additional 2,369,080 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after purchasing an additional 18,518,584 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Kraft Heinz by 1.1% in the first quarter. Geode Capital Management LLC now owns 15,062,665 shares of the company’s stock worth $581,169,000 after purchasing an additional 161,170 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.