Kraft Heinz (NASDAQ:KHC) Given New $32.00 Price Target at Stifel Nicolaus

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by investment analysts at Stifel Nicolaus from $35.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 9.31% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. The Goldman Sachs Group decreased their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. TD Cowen decreased their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. 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 research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $34.77.

Kraft Heinz Stock Up 0.7 %

Shares of NASDAQ KHC traded up $0.21 during trading on Friday, hitting $29.28. The stock had a trading volume of 939,761 shares, compared to its average volume of 8,618,677. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a fifty day moving average of $30.62 and a two-hundred day moving average of $33.16. Kraft Heinz has a 12 month low of $28.37 and a 12 month high of $38.96. The company has a market capitalization of $35.40 billion, a PE ratio of 26.39, a PEG ratio of 3.45 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, equities research analysts forecast that Kraft Heinz will post 3 EPS for the current fiscal year.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s 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 sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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 bought and sold shares of the stock. State Street Corp increased its position in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC increased its position in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Kraft Heinz in the third quarter worth about $411,304,000. Legal & General Group Plc boosted its stake in shares of Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after acquiring an additional 799,581 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 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.