TD Cowen Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price decreased by TD Cowen from $34.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective indicates a potential upside of 7.89% from the company’s previous close.

A number of other equities analysts also recently issued reports on KHC. Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Mizuho reduced their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. 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, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.58.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $29.66 on Wednesday. The business has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $33.36. The firm has a market capitalization of $35.86 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. Kraft Heinz has a one year low of $29.23 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share 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 analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, research analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s 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 owns 168,195 shares of the company’s stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KHC. Fortitude Family Office LLC boosted its holdings in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz during the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the period. Bangor Savings Bank purchased a new position in Kraft Heinz during the 3rd quarter valued at about $32,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Kraft Heinz during the third quarter valued at about $33,000. 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.