Kraft Heinz Company (NASDAQ:KHC) Receives $26.16 Consensus Price Target from Analysts

Shares of Kraft Heinz Company (NASDAQ:KHC) have received a consensus rating of “Reduce” from the twenty-three brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $26.1579.

Several research firms have issued reports on KHC. UBS Group decreased their price target on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Exane BNP Paribas cut Kraft Heinz from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kraft Heinz from $27.00 to $26.00 in a report on Thursday, October 30th. The Goldman Sachs Group cut their price target on Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th.

Insider Activity

In other news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the sale, the insider directly owned 686,817 shares of the company’s stock, valued at $17,046,797.94. This represents a 15.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $276,159,000. Nordea Investment Management AB increased its stake in Kraft Heinz by 75.1% in the 3rd quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after buying an additional 5,873,967 shares during the last quarter. Geode Capital Management LLC lifted its position in Kraft Heinz by 14.7% during the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after buying an additional 3,392,470 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Kraft Heinz by 1,645.9% during the 2nd quarter. Marshall Wace LLP now owns 1,880,281 shares of the company’s stock worth $48,549,000 after buying an additional 1,772,581 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can increased its position in shares of Kraft Heinz by 45.4% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock valued at $126,056,000 after acquiring an additional 1,525,000 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Shares of KHC opened at $23.74 on Thursday. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of -6.36 and a beta of 0.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. The business’s 50-day moving average is $24.14 and its 200-day moving average is $25.58. Kraft Heinz has a fifty-two week low of $21.99 and a fifty-two week high of $33.35.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.27 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. Equities research analysts expect that Kraft Heinz will post 2.68 EPS for the current fiscal year.

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.