Barclays Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $34.00

Kraft Heinz (NASDAQ:KHC) had its target price lowered by equities researchers at Barclays from $36.00 to $34.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 2.84% from the company’s previous close.

A number of other research analysts have also issued reports on KHC. Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Finally, Citigroup dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Moderate Buy” and an average price target of $38.83.

Kraft Heinz Stock Performance

Shares of KHC stock traded down $0.71 on Friday, hitting $33.06. The company’s stock had a trading volume of 3,536,603 shares, compared to its average volume of 7,911,104. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The stock’s 50 day moving average is $33.83 and its 200-day moving average is $35.62. Kraft Heinz has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a market capitalization of $40.14 billion, a PE ratio of 14.45, a PEG ratio of 3.06 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. Equities research analysts expect that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Kraft Heinz

Several large investors have recently bought and sold shares of the business. Steward Partners Investment Solutions LLC purchased a new position in Kraft Heinz in the fourth quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz during the 1st quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Kraft Heinz during the 4th quarter valued at about $32,000. BKM Wealth Management LLC purchased a new position in shares of Kraft Heinz during the 4th quarter valued at about $33,000. Finally, Transcendent Capital Group LLC purchased a new position in Kraft Heinz in the 4th quarter worth approximately $38,000. 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.