TD Cowen Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target reduced by equities researchers at TD Cowen from $34.00 to $32.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 8.47% from the company’s previous close.

Several other brokerages also recently commented on KHC. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Wells Fargo & Company cut their price objective on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday. Evercore ISI reissued an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Mizuho lowered their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.58.

Kraft Heinz Stock Down 0.9 %

Kraft Heinz stock traded down $0.27 during trading on Wednesday, hitting $29.50. 3,535,913 shares of the company were exchanged, compared to its average volume of 7,270,284. The company has a market capitalization of $35.67 billion, a P/E ratio of 26.58, a PEG ratio of 3.62 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $31.49 and its 200 day moving average is $33.41. Kraft Heinz has a 52 week low of $29.23 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts predict that Kraft Heinz will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Kraft Heinz

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the last quarter. Clifford Capital Partners LLC raised its holdings in Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after purchasing an additional 80,101 shares during the period. Banque Cantonale Vaudoise boosted its position in Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after purchasing an additional 58,665 shares in the last quarter. Easterly Investment Partners LLC grew its holdings in Kraft Heinz by 39.4% in the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after purchasing an additional 44,485 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Kraft Heinz by 1,760.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company’s stock worth $23,008,000 after buying an additional 620,096 shares during the period. 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.