The Goldman Sachs Group Lowers Kraft Heinz (NASDAQ:KHC) Price Target to $32.00

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by analysts at The Goldman Sachs Group from $34.00 to $32.00 in a report released on Thursday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 4.45% from the company’s previous close.

A number of other equities analysts have also commented on KHC. Bank of America dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $35.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.15.

Kraft Heinz Price Performance

Shares of KHC opened at $33.49 on Thursday. The firm has a market cap of $40.49 billion, a PE ratio of 30.17, a PEG ratio of 3.30 and a beta of 0.49. The firm’s 50 day moving average price is $35.15 and its 200 day moving average price is $34.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06. Kraft Heinz has a twelve month low of $31.58 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued 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. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, research analysts expect that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Kraft Heinz

Institutional investors have recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the first quarter valued at $27,000. Fortitude Family Office LLC lifted its holdings in shares of 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 acquiring an additional 529 shares during the period. DiNuzzo Private Wealth Inc. lifted its holdings in shares of 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 acquiring an additional 797 shares during the period. Bangor Savings Bank bought a new position in shares of Kraft Heinz during the third quarter valued at $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Kraft Heinz during the third quarter valued at $33,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.