Kraft Heinz (NASDAQ:KHC) Downgraded to “Neutral” Rating by Mizuho

Mizuho cut shares of Kraft Heinz (NASDAQ:KHC) from an outperform rating to a neutral rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $31.00 price objective on the stock, down from their prior price objective of $38.00.

Several other research firms have also issued reports on KHC. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus decreased their price objective on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. UBS Group dropped their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Barclays decreased their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.36.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $28.96 on Monday. The firm’s 50 day moving average is $30.11 and its 200 day moving average is $32.88. The stock has a market capitalization of $35.02 billion, a P/E ratio of 26.09, a PEG ratio of 3.74 and a beta of 0.47. Kraft Heinz has a 12 month low of $28.31 and a 12 month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Kraft Heinz

A number of hedge funds and other institutional investors have recently bought and sold shares of KHC. State Street Corp grew its position in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after buying an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz during the third quarter valued at approximately $411,304,000. Nordea Investment Management AB raised its holdings 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 acquiring an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Kraft Heinz by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock valued at $172,016,000 after acquiring an additional 293,694 shares in the last quarter. Hedge funds and other institutional investors 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.