The Goldman Sachs Group Lowers Kraft Heinz (NASDAQ:KHC) Price Target to $28.00

Kraft Heinz (NASDAQ:KHC) had its price target lowered by investment analysts at The Goldman Sachs Group from $32.00 to $28.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 2.94% from the stock’s previous close.

A number of other analysts also recently issued reports on KHC. Stifel Nicolaus reduced their price objective on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. Jefferies Financial Group dropped their price objective on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Thursday. Finally, Barclays reduced their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average target price of $31.29.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock traded up $0.23 during trading hours on Thursday, hitting $28.85. The company’s stock had a trading volume of 5,843,581 shares, compared to its average volume of 9,617,631. The company has a market cap of $34.88 billion, a PE ratio of 25.99, a PEG ratio of 3.74 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. Kraft Heinz has a 12-month low of $27.25 and a 12-month high of $38.96. The business has a 50 day moving average price of $29.98 and a two-hundred day moving average price of $32.80.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Analysts expect that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KHC. Sawyer & Company Inc purchased a new stake in Kraft Heinz in the fourth quarter valued at $25,000. Fortitude Family Office LLC lifted its position in shares of Kraft Heinz by 249.5% in 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. Generali Investments Management Co LLC acquired a new stake in Kraft Heinz during the 4th quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the 3rd quarter worth approximately $27,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz during the fourth quarter worth $29,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.