Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $31.00 at Piper Sandler

Kraft Heinz (NASDAQ:KHC) had its price target lowered by equities researchers at Piper Sandler from $35.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 7.36% from the stock’s current price.

A number of other analysts also recently commented on KHC. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $34.00 to $28.00 in a research report on Thursday. TD Cowen dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. UBS Group dropped their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.64.

Kraft Heinz Trading Up 0.9 %

NASDAQ KHC traded up $0.25 during mid-day trading on Thursday, hitting $28.87. The company’s stock had a trading volume of 3,714,873 shares, compared to its average volume of 9,531,576. Kraft Heinz has a 52-week low of $27.25 and a 52-week high of $38.96. The stock’s fifty day simple moving average is $29.98 and its two-hundred day simple moving average is $32.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market capitalization of $34.91 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Research analysts expect that Kraft Heinz will post 3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KHC. Vanguard Group Inc. grew its stake in shares of Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock valued at $2,779,524,000 after buying an additional 14,996,486 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Kraft Heinz in the third quarter worth approximately $411,304,000. Norges Bank acquired a new position in shares of Kraft Heinz during the 4th quarter worth $324,857,000. State Street Corp raised its holdings in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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.