Kraft Heinz (NASDAQ:KHC) Given New $32.00 Price Target at TD Cowen

Kraft Heinz (NASDAQ:KHC) had its target price lowered by equities researchers at TD Cowen from $34.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 7.89% from the stock’s current price.

A number of other analysts also recently issued reports on KHC. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Barclays dropped their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Mizuho reduced their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $35.58.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $29.66 on Wednesday. The business has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $33.36. Kraft Heinz has a 52 week low of $29.23 and a 52 week high of $38.96. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.62 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

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

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank boosted its position in Kraft Heinz by 7.8% during the 4th quarter. First Hawaiian Bank now owns 11,713 shares of the company’s stock valued at $360,000 after acquiring an additional 849 shares in the last quarter. Pensionfund Sabic lifted its stake in shares of Kraft Heinz by 34.3% in the 4th quarter. Pensionfund Sabic now owns 47,000 shares of the company’s stock valued at $1,443,000 after purchasing an additional 12,000 shares during the period. Nordea Investment Management AB boosted its position in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Versant Capital Management Inc grew its stake in Kraft Heinz by 40.7% in the fourth quarter. Versant Capital Management Inc now owns 2,082 shares of the company’s stock worth $64,000 after purchasing an additional 602 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Kraft Heinz by 14.4% in the third quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock worth $38,519,000 after purchasing an additional 138,101 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.