Citigroup Reaffirms “Sell” Rating for Kraft Heinz (NASDAQ:KHC)

Kraft Heinz (NASDAQ:KHC)‘s stock had its “sell” rating restated by analysts at Citigroup in a report released on Friday, Marketbeat.com reports. They presently have a $27.00 target price on the stock, down from their prior target price of $28.00. Citigroup’s price objective would indicate a potential downside of 9.03% from the stock’s previous close.

Several other research firms have also issued reports on KHC. The Goldman Sachs Group decreased their target price on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on shares of Kraft Heinz in a research report on Monday, March 24th. They set an “underweight” rating and a $29.00 price target on the stock. Evercore ISI reissued 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. UBS Group cut their target price on shares of 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, TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.67.

Kraft Heinz Price Performance

Shares of KHC opened at $29.68 on Friday. The firm has a 50-day simple moving average of $30.09 and a two-hundred day simple moving average of $31.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. Kraft Heinz has a 1-year low of $27.25 and a 1-year high of $38.96. The stock has a market cap of $35.42 billion, a PE ratio of 13.13, a P/E/G ratio of 3.39 and a beta of 0.44.

Kraft Heinz (NASDAQ:KHC) last posted 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 net margin of 10.62% and a return on equity of 7.58%. As a group, analysts forecast that Kraft Heinz will post 2.68 EPS for the current year.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in shares of Kraft Heinz by 493.4% during the 1st quarter. Versant Capital Management Inc now owns 12,354 shares of the company’s stock worth $376,000 after buying an additional 10,272 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in Kraft Heinz during the 1st quarter worth $299,000. Wellington Management Group LLP lifted its position in Kraft Heinz by 39.6% in the fourth quarter. Wellington Management Group LLP now owns 176,864 shares of the company’s stock valued at $5,431,000 after acquiring an additional 50,211 shares during the last quarter. California State Teachers Retirement System lifted its position in Kraft Heinz by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 1,636,487 shares of the company’s stock valued at $50,257,000 after acquiring an additional 12,320 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Kraft Heinz by 109.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,614 shares of the company’s stock valued at $4,779,000 after acquiring an additional 81,159 shares in the last quarter. 78.17% of the stock is 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.