Citigroup Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by equities researchers at Citigroup from $39.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 13.47% from the company’s previous close.

A number of other research analysts have also recently issued reports on KHC. Mizuho cut their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Piper Sandler decreased their price target on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Barclays lifted their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.15.

Kraft Heinz Trading Up 0.1 %

Shares of KHC stock opened at $33.49 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $40.49 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 0.49. Kraft Heinz has a 12-month low of $31.58 and a 12-month high of $38.96. The firm has a 50-day moving average price of $35.15 and a 200 day moving average price of $34.83.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the previous year, the business earned $0.72 EPS. Kraft Heinz’s revenue was down 2.8% compared to the same quarter last year. Research analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently modified their holdings of KHC. New Covenant Trust Company N.A. bought a new position in Kraft Heinz during the 1st quarter worth approximately $27,000. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. DiNuzzo Private Wealth Inc. boosted its position in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Bangor Savings Bank acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $32,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Kraft Heinz in the 3rd quarter valued at $33,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.