Kraft Heinz (NASDAQ:KHC) Stock Rating Lowered by Bank of America

Kraft Heinz (NASDAQ:KHC) was downgraded by Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They currently have a $30.00 target price on the stock, down from their prior target price of $36.00. Bank of America‘s target price would suggest a potential upside of 4.82% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Citigroup decreased their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $38.00 to $31.00 in a report on Monday. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Finally, Jefferies Financial Group decreased their target price on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.07.

Kraft Heinz Stock Performance

KHC stock opened at $28.62 on Thursday. Kraft Heinz has a 1-year low of $27.25 and a 1-year high of $38.96. The business’s 50-day moving average price is $30.02 and its two-hundred day moving average price is $32.83. The firm has a market cap of $34.61 billion, a PE ratio of 25.78, a P/E/G ratio of 3.74 and a beta of 0.47. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating 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 forecast that Kraft Heinz will post 3 earnings per share for the current year.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sawyer & Company Inc bought a new position in shares of Kraft Heinz in the 4th quarter valued at $25,000. Fortitude Family Office LLC increased its holdings in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares in the last quarter. Generali Investments Management Co LLC bought a new position in Kraft Heinz in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz during the third quarter valued at about $27,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Kraft Heinz during the fourth quarter worth about $29,000. 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.