Kraft Heinz (NASDAQ:KHC) Price Target Cut to $35.00 by Analysts at Barclays

Kraft Heinz (NASDAQ:KHC) had its target price dropped by analysts at Barclays from $36.00 to $35.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 4.60% from the company’s current price.

KHC has been the topic of several other research reports. Mizuho cut their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup cut their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Piper Sandler reduced their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Evercore ISI dropped their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.15.

Kraft Heinz Price Performance

Kraft Heinz stock remained flat at $33.46 during mid-day trading on Friday. 2,045,499 shares of the company were exchanged, compared to its average volume of 7,759,000. Kraft Heinz has a 52 week low of $31.58 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06. The firm’s 50-day moving average price is $35.20 and its 200 day moving average price is $34.85. The stock has a market capitalization of $40.46 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. As a group, sell-side analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Institutional Trading of Kraft Heinz

A number of hedge funds have recently bought and sold shares of KHC. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. lifted its position in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares during the last quarter. Asset Dedication LLC boosted its stake in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz in the third quarter worth $32,000. Hedge funds and other 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.