TD Cowen Lowers Kraft Heinz (NASDAQ:KHC) Price Target to $32.00

Kraft Heinz (NASDAQ:KHC) had its price target lowered by TD Cowen from $34.00 to $32.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 8.47% from the stock’s current price.

KHC has been the subject of a number of other reports. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Barclays dropped their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company reduced their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Evercore ISI reissued an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday. Finally, Citigroup decreased their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.58.

Kraft Heinz Price Performance

Shares of KHC traded down $0.27 on Wednesday, hitting $29.50. The company’s stock had a trading volume of 3,535,913 shares, compared to its average volume of 7,270,284. The company has a 50 day moving average price of $31.49 and a 200 day moving average price of $33.41. Kraft Heinz has a fifty-two week low of $29.23 and a fifty-two week high of $38.96. The company has a market capitalization of $35.67 billion, a PE ratio of 26.58, a PEG ratio of 3.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents 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 this hyperlink. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Kraft Heinz by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after buying an additional 545,504 shares during the last quarter. Clifford Capital Partners LLC lifted its holdings in Kraft Heinz by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after purchasing an additional 80,101 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Kraft Heinz by 52.5% in the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock valued at $5,988,000 after acquiring an additional 58,665 shares during the period. Easterly Investment Partners LLC increased its position in Kraft Heinz by 39.4% during the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock worth $5,529,000 after acquiring an additional 44,485 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Kraft Heinz by 1,760.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company’s stock valued at $23,008,000 after buying an additional 620,096 shares during the period. Institutional investors own 78.17% of the company’s stock.

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.