Kraft Heinz Co (NASDAQ:KHC) has earned an average rating of “Hold” from the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $72.02.
KHC has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. BidaskClub lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. Bank of America set a $85.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective on shares of Kraft Heinz in a research report on Tuesday, August 7th. Finally, Morgan Stanley initiated coverage on shares of Kraft Heinz in a research report on Monday, September 17th. They issued an “underweight” rating and a $52.00 price objective on the stock.
In related news, EVP Eduardo Pelleissone sold 35,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $63.85, for a total value of $2,234,750.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The disclosure for this sale can be found here. Corporate insiders own 26.81% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Magellan Asset Management Ltd grew its stake in Kraft Heinz by 39.6% during the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after buying an additional 9,529,235 shares in the last quarter. FMR LLC boosted its stake in shares of Kraft Heinz by 34.4% in the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after purchasing an additional 2,111,198 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Kraft Heinz by 3.3% in the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock valued at $452,592,000 after purchasing an additional 230,493 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Kraft Heinz by 39,913.8% in the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after purchasing an additional 3,398,664 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Kraft Heinz by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock valued at $181,612,000 after purchasing an additional 93,997 shares in the last quarter. Institutional investors and hedge funds own 63.02% of the company’s stock.
Shares of KHC opened at $55.85 on Friday. The stock has a market capitalization of $66.63 billion, a PE ratio of 15.73, a P/E/G ratio of 1.93 and a beta of 0.51. Kraft Heinz has a fifty-two week low of $53.03 and a fifty-two week high of $82.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 1.05.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.57 billion. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that Kraft Heinz will post 3.7 EPS for the current fiscal year.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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