Citigroup Reaffirms "Sell" Rating for Kraft Heinz (NASDAQ:KHC)

Kraft Heinz (NASDAQ:KHC - Get Free Report)'s stock had its "sell" rating reissued by Citigroup in a research note issued on Friday, Marketbeat.com reports. They presently have a $27.00 price target on the stock, down from their prior price target of $28.00. Citigroup's price objective would indicate a potential downside of 6.73% from the stock's current price.

Several other research firms also recently weighed in on KHC. Mizuho downgraded shares of Kraft Heinz from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. Piper Sandler decreased their target price on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company cut their price target on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Bank of America cut Kraft Heinz from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $36.00 to $30.00 in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Four analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of "Hold" and an average price target of $30.67.

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Kraft Heinz Stock Performance

Shares of KHC stock traded up $1.26 during trading hours on Friday, reaching $28.95. The company had a trading volume of 7,616,870 shares, compared to its average volume of 8,938,288. The firm has a market cap of $34.55 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The business has a fifty day moving average price of $29.98 and a 200-day moving average price of $31.39. Kraft Heinz has a one year low of $27.25 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Sell-side analysts predict that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after acquiring an additional 14,996,486 shares during the last quarter. Norges Bank bought a new position in Kraft Heinz during the fourth quarter valued at $324,857,000. State Street Corp grew its stake in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company's stock worth $1,558,898,000 after buying an additional 6,366,732 shares in the last quarter. Southeastern Asset Management Inc. TN purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at about $87,080,000. Finally, Fairfax Financial Holdings Ltd. Can boosted its holdings in shares of Kraft Heinz by 341.9% in the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock worth $101,773,000 after purchasing an additional 2,564,000 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

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.