Kraft Heinz (NASDAQ:KHC) Given New $21.00 Price Target at JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $22.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 1.85% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. TD Cowen reissued a “hold” rating on shares of Kraft Heinz in a research note on Thursday, February 12th. Jefferies Financial Group lowered their price objective on shares of Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research report on Thursday, January 22nd. Morgan Stanley restated an “underweight” rating and set a $23.00 price target on shares of Kraft Heinz in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein increased their target price on Kraft Heinz from $24.00 to $27.00 and gave the company a “market perform” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $24.61.

Kraft Heinz Stock Performance

KHC traded up $0.08 during trading hours on Wednesday, hitting $21.40. The stock had a trading volume of 3,225,231 shares, compared to its average volume of 16,759,711. The stock has a market cap of $25.33 billion, a PE ratio of -4.34 and a beta of 0.06. The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $23.70 and its 200 day simple moving average is $24.54. Kraft Heinz has a 1 year low of $21.03 and a 1 year high of $31.15.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 11th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Kraft Heinz had a positive return on equity of 7.07% and a negative net margin of 23.44%.The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The company’s quarterly 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 anticipate that Kraft Heinz will post 2.68 earnings per share for the current year.

Insider Activity

In related news, insider Cory Onell sold 4,991 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $24.34, for a total transaction of $121,480.94. Following the sale, the insider owned 197,463 shares of the company’s stock, valued at $4,806,249.42. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kraft Heinz

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Kraft Heinz by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company’s stock worth $2,496,131,000 after buying an additional 616,283 shares in the last quarter. State Street Corp raised its holdings in shares of Kraft Heinz by 1.0% in the second quarter. State Street Corp now owns 46,376,394 shares of the company’s stock valued at $1,197,438,000 after acquiring an additional 462,963 shares in the last quarter. Invesco Ltd. lifted its stake in Kraft Heinz by 10.5% in the fourth quarter. Invesco Ltd. now owns 19,725,662 shares of the company’s stock worth $478,347,000 after acquiring an additional 1,870,310 shares during the period. Auto Owners Insurance Co grew its holdings in Kraft Heinz by 3,034.1% during the 4th quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company’s stock worth $39,957,000 after acquiring an additional 15,951,271 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Kraft Heinz by 0.8% during the 4th quarter. Nordea Investment Management AB now owns 13,801,453 shares of the company’s stock valued at $336,134,000 after purchasing an additional 106,970 shares during the period. 78.17% of the stock is owned by institutional investors.

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.