Kraft Heinz (NASDAQ:KHC) Price Target Cut to $39.00 by Analysts at Deutsche Bank Aktiengesellschaft

Kraft Heinz (NASDAQ:KHC) had its target price cut by research analysts at Deutsche Bank Aktiengesellschaft from $43.00 to $39.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 13.47% from the stock’s previous close.

Several other research analysts have also recently weighed in on KHC. Wells Fargo & Company decreased 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. Bank of America decreased their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Citigroup dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays lowered their target price on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $38.08.

Kraft Heinz Stock Up 1.6 %

KHC stock opened at $34.37 on Wednesday. The stock has a market capitalization of $41.74 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.35 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96. The business has a fifty day moving average price of $33.37 and a 200-day moving average price of $35.33.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. Kraft Heinz’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. Equities analysts forecast that Kraft Heinz will post 2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in shares of Kraft Heinz by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 415,017 shares of the company’s stock worth $13,372,000 after purchasing an additional 11,445 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Kraft Heinz by 4.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 43,668 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,853 shares during the period. Rothschild Investment LLC purchased a new stake in Kraft Heinz during the 2nd quarter valued at approximately $1,302,000. Intact Investment Management Inc. raised its position in shares of Kraft Heinz by 13.7% during the second quarter. Intact Investment Management Inc. now owns 56,600 shares of the company’s stock valued at $1,824,000 after buying an additional 6,800 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Kraft Heinz by 9.8% in the second quarter. Maryland State Retirement & Pension System now owns 69,256 shares of the company’s stock worth $2,231,000 after buying an additional 6,208 shares in the last quarter. 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.