Kraft Heinz (NASDAQ:KHC) Receives “In-Line” Rating from Evercore ISI

Kraft Heinz (NASDAQ:KHC)‘s stock had its “in-line” rating restated by analysts at Evercore ISI in a research report issued on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock, down from their previous price target of $38.00. Evercore ISI’s price target would suggest a potential upside of 16.47% from the company’s previous close.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Mizuho decreased their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup dropped their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.27.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $30.05 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market cap of $36.34 billion, a PE ratio of 27.07, a P/E/G ratio of 3.62 and a beta of 0.48. The firm has a 50 day simple moving average of $31.59 and a 200-day simple moving average of $33.43. Kraft Heinz has a 1-year low of $30.01 and a 1-year 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, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the previous year, the firm posted $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Kraft Heinz will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kraft Heinz

A number of large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its stake in Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC increased its holdings in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at approximately $32,000. 78.17% of the stock is owned by institutional investors and hedge funds.

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.