UBS Group Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target lowered by UBS Group from $37.00 to $31.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 5.91% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Citigroup lowered their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered 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 research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $35.23.

Kraft Heinz Trading Up 1.0 %

Shares of KHC opened at $29.27 on Thursday. Kraft Heinz has a 12 month low of $28.37 and a 12 month high of $38.96. The stock’s 50-day moving average is $30.87 and its two-hundred day moving average is $33.22. 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 stock has a market cap of $35.39 billion, a PE ratio of 26.37, a P/E/G ratio of 3.29 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the company posted $0.72 EPS. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts forecast that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KHC. State Street Corp boosted its holdings 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 lifted its position in Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz during the 3rd quarter valued at about $411,304,000. Legal & General Group Plc boosted its stake in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after purchasing an additional 799,581 shares during the period. Finally, Nordea Investment Management AB grew its position in Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. 78.17% of the stock is currently owned by 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.