Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $23.00 at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its price objective cut by Wells Fargo & Company from $25.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 0.61% from the company’s previous close.

KHC has been the subject of several other reports. Jefferies Financial Group lowered their price objective on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Mizuho decreased their target price on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Sanford C. Bernstein upped their price target on Kraft Heinz from $24.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, February 12th. Piper Sandler dropped their price target on shares of Kraft Heinz from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Finally, UBS Group raised their price objective on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $24.78.

Kraft Heinz Price Performance

Shares of KHC opened at $23.14 on Thursday. The firm has a market capitalization of $27.39 billion, a price-to-earnings ratio of -4.68 and a beta of 0.06. The firm’s fifty day simple moving average is $23.98 and its 200-day simple moving average is $24.90. Kraft Heinz has a twelve month low of $21.99 and a twelve month high of $31.15. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 11th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Kraft Heinz had a negative net margin of 23.44% and a positive return on equity of 7.07%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. Equities analysts forecast that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares in the company, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cory Onell sold 9,045 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $24.61, for a total transaction of $222,597.45. Following the sale, the insider owned 202,454 shares of the company’s stock, valued at approximately $4,982,392.94. This represents a 4.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 139,036 shares of company stock worth $3,446,578 in the last 90 days. 0.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in the stock. Jessup Wealth Management Inc acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $27,000. Reflection Asset Management acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $28,000. Key Capital Management INC purchased a new stake in shares of Kraft Heinz during the fourth quarter worth approximately $29,000. DV Equities LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $29,000. Finally, New England Capital Financial Advisors LLC grew its position in Kraft Heinz by 70.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock valued at $30,000 after buying an additional 511 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.