Barclays Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $29.00

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by analysts at Barclays from $33.00 to $29.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 0.97% from the company’s current price.

KHC has been the subject of a number of other research reports. Evercore ISI restated an “in-line” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, TD Cowen lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Stock Up 0.1 %

KHC traded up $0.03 during mid-day trading on Friday, reaching $29.28. 1,555,945 shares of the stock were exchanged, compared to its average volume of 9,640,107. The company has a 50 day moving average price of $29.94 and a two-hundred day moving average price of $32.77. The stock has a market capitalization of $35.41 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. Kraft Heinz has a 1 year low of $27.25 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. As a group, research analysts anticipate that Kraft Heinz will post 3 EPS for the current year.

Institutional Trading of Kraft Heinz

Several institutional investors and hedge funds have recently made changes to their positions in KHC. Vanguard Group Inc. increased its stake in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock valued at $2,779,524,000 after acquiring an additional 14,996,486 shares during the last quarter. State Street Corp boosted its holdings in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kraft Heinz by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company’s stock valued at $604,644,000 after buying an additional 595,406 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Kraft Heinz in the 3rd quarter worth approximately $411,304,000. Finally, Norges Bank purchased a new stake in Kraft Heinz in the fourth quarter worth approximately $324,857,000. Hedge funds and other 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.