Jefferies Financial Group Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $30.00

Kraft Heinz (NASDAQ:KHC) had its price objective trimmed by Jefferies Financial Group from $34.00 to $30.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler restated a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Stifel Nicolaus lowered their target price on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Citigroup lowered their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $34.07.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $29.84 on Wednesday. The firm’s 50-day moving average price is $30.45 and its 200-day moving average price is $33.05. Kraft Heinz has a 1-year low of $28.37 and a 1-year high of $38.96. The firm has a market capitalization of $36.08 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.80 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

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

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the 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 sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hara Capital LLC lifted its stake in Kraft Heinz by 61.9% in the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company’s stock worth $52,000 after purchasing an additional 650 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Kraft Heinz in the 4th quarter worth $140,000. Kornitzer Capital Management Inc. KS raised its position in Kraft Heinz by 14.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 333,622 shares of the company’s stock worth $10,246,000 after purchasing an additional 42,287 shares during the period. Venturi Wealth Management LLC raised its position in Kraft Heinz by 73.7% in the 4th quarter. Venturi Wealth Management LLC now owns 5,122 shares of the company’s stock worth $157,000 after purchasing an additional 2,174 shares during the period. Finally, Empower Advisory Group LLC raised its position in Kraft Heinz by 0.3% in the 4th quarter. Empower Advisory Group LLC now owns 2,037,187 shares of the company’s stock worth $62,562,000 after purchasing an additional 6,771 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

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.