Kraft Heinz (NASDAQ:KHC) PT Lowered to $39.00 at Deutsche Bank Aktiengesellschaft

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $43.00 to $39.00 in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 13.47% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Citigroup decreased their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Piper Sandler cut their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Finally, Bank of America decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.08.

Kraft Heinz Price Performance

Shares of KHC opened at $34.37 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The company’s fifty day moving average price is $33.37 and its 200-day moving average price is $35.33. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96. The firm has a market capitalization of $41.74 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 3.35 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Kraft Heinz will post 2.99 EPS for the current year.

Insider Activity at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kraft Heinz

Several large investors have recently bought and sold shares of KHC. TCW Group Inc. acquired a new position in Kraft Heinz in the 4th quarter valued at $1,098,000. Shell Asset Management Co. lifted its stake in shares of Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Kraft Heinz by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares during the last quarter. Bridgewater Associates LP grew its stake in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after acquiring an additional 234,783 shares during the last quarter. 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.