The Goldman Sachs Group Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by equities researchers at The Goldman Sachs Group from $32.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 3.18% from the company’s current price.

Several other research firms have also recently commented on KHC. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Citigroup cut Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $28.00 in a research note on Thursday. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, Piper Sandler cut their price target on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Down 1.1 %

Shares of KHC opened at $28.92 on Thursday. The stock’s 50-day moving average is $29.94 and its two-hundred day moving average is $32.77. The stock has a market cap of $34.97 billion, a PE ratio of 26.05, a P/E/G ratio of 3.74 and a beta of 0.47. Kraft Heinz has a 12 month low of $27.25 and a 12 month high of $38.96. 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 (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Equities analysts forecast that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors have recently made changes to their positions in the stock. DoubleLine ETF Adviser LP increased its position in Kraft Heinz by 2.6% in the 4th quarter. DoubleLine ETF Adviser LP now owns 50,242 shares of the company’s stock valued at $1,543,000 after acquiring an additional 1,263 shares during the period. Widmann Financial Services Inc. increased its position in Kraft Heinz by 9.2% in the 4th quarter. Widmann Financial Services Inc. now owns 7,725 shares of the company’s stock valued at $237,000 after acquiring an additional 650 shares during the period. Parvin Asset Management LLC acquired a new stake in Kraft Heinz in the 4th quarter valued at approximately $255,000. Rehmann Capital Advisory Group increased its position in Kraft Heinz by 3.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company’s stock valued at $427,000 after acquiring an additional 408 shares during the period. Finally, Northern Trust Corp increased its position in Kraft Heinz by 12.6% in the 4th quarter. Northern Trust Corp now owns 9,289,691 shares of the company’s stock valued at $285,286,000 after acquiring an additional 1,039,885 shares during the period. 78.17% of the stock is owned by 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.