Jefferies Financial Group Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price objective cut by analysts at Jefferies Financial Group from $34.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 1.15% from the company’s current price.

Several other analysts have also issued reports on KHC. Evercore ISI reiterated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Mizuho dropped their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. TD Cowen dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price 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, Stifel Nicolaus dropped their target price on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $34.43.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded up $0.07 during midday trading on Wednesday, reaching $29.66. The company’s stock had a trading volume of 5,686,452 shares, compared to its average volume of 9,054,796. The firm has a market capitalization of $35.86 billion, a PE ratio of 26.72, a P/E/G ratio of 3.45 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $30.49 and a 200 day moving average of $33.09. Kraft Heinz has a twelve month low of $28.37 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. On average, equities analysts expect that Kraft Heinz will post 3 EPS for the current fiscal year.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing 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

Several large investors have recently made changes to their positions in KHC. Public Sector Pension Investment Board lifted its holdings in shares of Kraft Heinz by 47.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,551 shares of the company’s stock worth $469,000 after acquiring an additional 4,714 shares during the last quarter. Creative Planning lifted its holdings in shares of Kraft Heinz by 79.0% in the 2nd quarter. Creative Planning now owns 209,567 shares of the company’s stock worth $6,752,000 after acquiring an additional 92,495 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Kraft Heinz by 11.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 70,401 shares of the company’s stock worth $2,268,000 after acquiring an additional 7,010 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Kraft Heinz by 14.3% in the 2nd quarter. NewEdge Advisors LLC now owns 51,630 shares of the company’s stock worth $1,664,000 after acquiring an additional 6,469 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Kraft Heinz in the 2nd quarter worth approximately $76,000. 78.17% of the stock is currently 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.