Evercore ISI Reaffirms “In-Line” Rating for Kraft Heinz (NASDAQ:KHC)

Kraft Heinz (NASDAQ:KHC)‘s stock had its “in-line” rating reaffirmed by investment analysts at Evercore ISI in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $35.00 target price on the stock, down from their prior target price of $38.00. Evercore ISI’s price objective indicates a potential upside of 16.47% from the company’s current price.

Other research analysts have also issued reports about the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Citigroup decreased their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Mizuho dropped their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.27.

Kraft Heinz Stock Down 1.8 %

Shares of Kraft Heinz stock opened at $30.05 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $31.59 and a 200 day moving average price of $33.43. Kraft Heinz has a fifty-two week low of $30.01 and a fifty-two week high of $38.96. The firm has a market cap of $36.34 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business 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 7.46% and a net margin of 5.24%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. On average, sell-side analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Several institutional investors have recently modified their holdings of KHC. Pensionfund Sabic raised its position in Kraft Heinz by 34.3% in the fourth quarter. Pensionfund Sabic now owns 47,000 shares of the company’s stock worth $1,443,000 after acquiring an additional 12,000 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Kraft Heinz by 40.7% in the 4th quarter. Versant Capital Management Inc now owns 2,082 shares of the company’s stock worth $64,000 after purchasing an additional 602 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Kraft Heinz by 14.4% during the third quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock valued at $38,519,000 after purchasing an additional 138,101 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL boosted its holdings in Kraft Heinz by 14.5% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 69,327 shares of the company’s stock worth $2,434,000 after buying an additional 8,785 shares in the last quarter. 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.