JPMorgan Chase & Co. Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $32.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.80% from the stock’s previous close.

KHC has been the topic of a number of other reports. Evercore ISI reiterated an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Piper Sandler cut their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Financial Group dropped their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Two research 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 $31.57.

Kraft Heinz Stock Up 1.4 %

NASDAQ KHC traded up $0.41 on Thursday, reaching $29.03. The company had a trading volume of 4,329,507 shares, compared to its average volume of 9,563,705. The firm has a 50-day moving average of $29.98 and a 200-day moving average of $32.80. Kraft Heinz has a 1 year low of $27.25 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market capitalization of $35.10 billion, a PE ratio of 26.13, a P/E/G ratio of 3.74 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping 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%. On average, equities research analysts anticipate that Kraft Heinz will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Kraft Heinz

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock valued at $2,779,524,000 after buying an additional 14,996,486 shares during the period. State Street Corp increased its stake in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares during the period. Geode Capital Management LLC raised its holdings in Kraft Heinz by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company’s stock worth $604,644,000 after purchasing an additional 595,406 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Kraft Heinz in the third quarter worth approximately $411,304,000. Finally, Norges Bank bought a new position in Kraft Heinz during the 4th quarter valued at $324,857,000. 78.17% of the stock is currently owned by 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.