Kraft Heinz (NASDAQ:KHC) Given New $24.00 Price Target at Piper Sandler

Kraft Heinz (NASDAQ:KHC) had its price target reduced by Piper Sandler from $26.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 13.13% from the company’s current price.

KHC has been the topic of several other reports. Barclays raised their target price on Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Jefferies Financial Group decreased their price target on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday, January 20th. JPMorgan Chase & Co. lowered Kraft Heinz from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $24.00 to $22.00 in a report on Thursday, February 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 price objective on shares of Kraft Heinz in a report on Tuesday, February 17th. Finally, TD Cowen reiterated a “hold” rating on shares of Kraft Heinz in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Kraft Heinz has a consensus rating of “Reduce” and an average target price of $24.67.

Kraft Heinz Stock Performance

NASDAQ:KHC traded down $0.36 during mid-day trading on Monday, hitting $21.22. The stock had a trading volume of 11,163,565 shares, compared to its average volume of 16,840,316. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $23.78 and a 200-day simple moving average of $24.62. The stock has a market capitalization of $25.11 billion, a price-to-earnings ratio of -4.30 and a beta of 0.06. Kraft Heinz has a 52 week low of $21.08 and a 52 week high of $31.15.

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

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,991 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $24.34, for a total value of $121,480.94. Following the sale, the insider owned 197,463 shares of the company’s stock, valued at approximately $4,806,249.42. The trade was a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Generali Asset Management SPA SGR raised its holdings in Kraft Heinz by 192.4% during the third quarter. Generali Asset Management SPA SGR now owns 81,260 shares of the company’s stock valued at $2,116,000 after buying an additional 53,467 shares in the last quarter. Fairfax Financial Holdings Ltd. Can lifted 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 worth $126,056,000 after buying an additional 1,525,000 shares during the last quarter. First Horizon Corp bought a new stake in shares of Kraft Heinz during the 3rd quarter worth about $4,678,000. Savoir Faire Capital Management L.P. acquired a new position in shares of Kraft Heinz during the 3rd quarter valued at about $12,923,000. Finally, Schroder Investment Management Group increased its holdings in shares of Kraft Heinz by 2.4% during the 3rd quarter. Schroder Investment Management Group now owns 3,263,971 shares of the company’s stock valued at $84,994,000 after acquiring an additional 77,045 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

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.