UBS Group Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $31.00

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by analysts at UBS Group from $37.00 to $31.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 5.91% from the stock’s previous close.

Several other equities analysts have also recently issued reports on KHC. Mizuho lowered their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Citigroup cut their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Evercore ISI restated an “in-line” rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $35.23.

Kraft Heinz Stock Performance

KHC stock opened at $29.27 on Thursday. The company has a 50-day simple moving average of $30.87 and a 200 day simple moving average of $33.22. The company has a market capitalization of $35.39 billion, a P/E ratio of 26.37, a PEG ratio of 3.29 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 has a fifty-two week low of $28.37 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Kraft Heinz

Several institutional investors have recently made changes to their positions in the stock. Sawyer & Company Inc acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $25,000. Fortitude Family Office LLC increased its stake in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. boosted its position in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz in the third quarter valued at about $32,000. 78.17% of the stock is currently 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.