Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $39.00 at Citigroup

Kraft Heinz (NASDAQ:KHC) had its target price decreased by analysts at Citigroup from $41.00 to $39.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 12.49% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Finally, Evercore ISI lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.55.

Kraft Heinz Price Performance

KHC traded up $0.01 during midday trading on Wednesday, reaching $34.67. 4,148,821 shares of the company’s stock were exchanged, compared to its average volume of 7,851,048. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96. The stock has a market capitalization of $42.10 billion, a PE ratio of 15.14, a P/E/G ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The business’s 50-day moving average price is $35.16 and its 200 day moving average price is $35.03.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. As a group, equities analysts anticipate that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently made changes to their positions in the business. Elo Mutual Pension Insurance Co grew its stake in Kraft Heinz by 4.1% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 74,847 shares of the company’s stock worth $2,768,000 after purchasing an additional 2,947 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Kraft Heinz by 4.6% in the 4th quarter. Wasatch Advisors LP now owns 113,000 shares of the company’s stock worth $4,179,000 after acquiring an additional 5,000 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $136,000. Palogic Value Management L.P. raised its position in shares of Kraft Heinz by 17.9% during the 4th quarter. Palogic Value Management L.P. now owns 14,929 shares of the company’s stock valued at $552,000 after acquiring an additional 2,270 shares in the last quarter. Finally, GLOBALT Investments LLC GA bought a new position in Kraft Heinz during the fourth quarter worth $7,743,000. 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.