Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $31.00 at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its price target decreased by analysts at Wells Fargo & Company from $35.00 to $31.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 4.52% from the company’s previous close.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup lowered their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $35.58.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $29.66 on Tuesday. Kraft Heinz has a 52 week low of $29.23 and a 52 week high of $38.96. The company has a market capitalization of $35.86 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The stock’s fifty day moving average is $31.41 and its two-hundred day moving average is $33.38. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, analysts expect that Kraft Heinz will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank boosted its holdings in Kraft Heinz by 7.8% in the fourth quarter. First Hawaiian Bank now owns 11,713 shares of the company’s stock valued at $360,000 after purchasing an additional 849 shares during the last quarter. Pensionfund Sabic boosted its stake in shares of Kraft Heinz by 34.3% in the fourth quarter. Pensionfund Sabic now owns 47,000 shares of the company’s stock worth $1,443,000 after buying an additional 12,000 shares during the last quarter. Nordea Investment Management AB grew its holdings in Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 shares during the period. Versant Capital Management Inc lifted its holdings in Kraft Heinz by 40.7% in the fourth quarter. Versant Capital Management Inc now owns 2,082 shares of the company’s stock valued at $64,000 after acquiring an additional 602 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Kraft Heinz by 14.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock worth $38,519,000 after purchasing an additional 138,101 shares in the last quarter. Institutional investors and hedge funds 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.