Kraft Heinz (NASDAQ:KHC) Given New $31.00 Price Target at UBS Group

Kraft Heinz (NASDAQ:KHC) had its price objective cut by UBS Group from $37.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 6.99% from the stock’s current price.

A number of other analysts have also recently commented on the company. Mizuho reduced their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. TD Cowen lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.23.

Kraft Heinz Stock Up 0.9 %

Kraft Heinz stock traded up $0.25 on Thursday, hitting $28.98. 5,580,135 shares of the stock traded hands, compared to its average volume of 9,501,463. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $31.04 and its 200 day simple moving average is $33.29. The firm has a market cap of $35.04 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 3.29 and a beta of 0.48. Kraft Heinz has a 1 year low of $28.37 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data 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 previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kraft Heinz will post 3 earnings per share for the current year.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kraft Heinz

A number of large investors have recently made changes to their positions in KHC. State Street Corp boosted its holdings in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC boosted its position in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after buying an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz in the 3rd quarter worth approximately $411,304,000. Legal & General Group Plc raised its position in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares during 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.