Morgan Stanley Initiates Coverage on Kraft Heinz (NASDAQ:KHC)

Morgan Stanley initiated coverage on shares of Kraft Heinz (NASDAQ:KHC) in a note issued to investors on Monday, Marketbeat reports. The firm set an “underweight” rating and a $29.00 price target on the stock. Morgan Stanley’s price target would suggest a potential downside of 0.34% from the stock’s current price.

Several other brokerages have also recently issued reports on KHC. Jefferies Financial Group reduced their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Citigroup cut Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $28.00 in a research note on Thursday, February 13th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, The Goldman Sachs Group lowered their price objective on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.73.

Kraft Heinz Trading Down 0.1 %

KHC opened at $29.10 on Monday. The firm has a market capitalization of $34.77 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 3.39 and a beta of 0.40. Kraft Heinz has a one year low of $27.25 and a one year high of $38.96. The business has a 50 day simple moving average of $29.93 and a two-hundred day simple moving average of $31.80. 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 (NASDAQ:KHC) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Analysts predict that Kraft Heinz will post 2.68 EPS for the current year.

Institutional Trading of Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in the business. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $25,000. Generali Investments Management Co LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at about $29,000. Larson Financial Group LLC grew its stake in shares of Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after acquiring an additional 636 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $34,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

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.