Kraft Heinz (NASDAQ:KHC) Price Target Cut to $32.00 by Analysts at TD Cowen

Kraft Heinz (NASDAQ:KHC - Get Free Report) had its price target cut by stock analysts at TD Cowen from $34.00 to $32.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. TD Cowen's target price suggests a potential upside of 7.89% from the company's previous close.

Several other research firms have also commented on KHC. Mizuho reduced their price target on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Barclays reduced their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an "equal weight" rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.58.

Kraft Heinz Trading Down 0.4 %

Shares of NASDAQ KHC traded down $0.11 during trading hours on Wednesday, reaching $29.66. The stock had a trading volume of 7,933,599 shares, compared to its average volume of 8,180,261. Kraft Heinz has a 52-week low of $29.23 and a 52-week high of $38.96. The firm has a market cap of $35.86 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 3.62 and a beta of 0.48. The business's fifty day moving average price is $31.49 and its two-hundred day moving average price is $33.41. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. Analysts expect that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, 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 this hyperlink. Corporate insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Kraft Heinz

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC grew its holdings in Kraft Heinz by 520.8% in the second quarter. Los Angeles Capital Management LLC now owns 35,216 shares of the company's stock valued at $1,135,000 after purchasing an additional 29,543 shares during the period. Acadian Asset Management LLC increased its holdings in Kraft Heinz by 147.4% in the 2nd quarter. Acadian Asset Management LLC now owns 52,684 shares of the company's stock worth $1,695,000 after acquiring an additional 31,391 shares in the last quarter. Ballentine Partners LLC acquired a new position in Kraft Heinz during the second quarter worth $522,000. Ashton Thomas Private Wealth LLC lifted its holdings in Kraft Heinz by 17.9% during the second quarter. Ashton Thomas Private Wealth LLC now owns 16,418 shares of the company's stock valued at $529,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Choreo LLC grew its position in shares of Kraft Heinz by 155.5% in the second quarter. Choreo LLC now owns 35,283 shares of the company's stock valued at $1,125,000 after purchasing an additional 21,473 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.