Kraft Heinz (NASDAQ:KHC) Earns “Neutral” Rating from Piper Sandler

Kraft Heinz (NASDAQ:KHC)‘s stock had its “neutral” rating reaffirmed by research analysts at Piper Sandler in a research note issued on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock, down from their previous price target of $40.00. Piper Sandler’s price target would indicate a potential upside of 12.65% from the company’s current price.

A number of other equities research analysts have also recently issued reports on KHC. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Barclays lowered their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.55.

Kraft Heinz Trading Down 0.2 %

NASDAQ:KHC opened at $31.07 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $37.57 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. The firm’s 50 day moving average is $34.43 and its 200 day moving average is $34.38. Kraft Heinz has a 12 month low of $30.40 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company 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%. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Sell-side analysts expect that Kraft Heinz will post 3.01 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Institutional Trading of Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in KHC. Fortitude Family Office LLC boosted its position in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the period. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz during the first quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz during the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. boosted 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 buying an additional 797 shares during the period. Finally, Asset Dedication LLC raised its stake in shares of Kraft Heinz by 94.8% during 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 during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

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.