Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $28.00 at The Goldman Sachs Group

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by equities researchers at The Goldman Sachs Group from $32.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 2.94% from the company’s previous close.

A number of other analysts have also weighed in on KHC. UBS Group lowered their target price on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday. Piper Sandler cut their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America lowered shares of Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price target for the company from $36.00 to $30.00 in a research note on Thursday. Finally, TD Cowen lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $31.29.

Kraft Heinz Stock Performance

KHC stock traded up $0.23 during trading on Thursday, reaching $28.85. 5,843,581 shares of the stock were exchanged, compared to its average volume of 9,617,631. Kraft Heinz has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a market capitalization of $34.88 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The stock has a 50 day simple moving average of $29.98 and a 200-day simple moving average of $32.80. 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) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. As a group, sell-side analysts anticipate that Kraft Heinz will post 3 earnings per share for the current year.

Institutional Trading of Kraft Heinz

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont boosted its position in Kraft Heinz by 3.6% during the 3rd quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock valued at $365,000 after buying an additional 358 shares during the period. New York Life Investment Management LLC boosted its position in shares of Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after purchasing an additional 361 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after acquiring an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Kraft Heinz by 1.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock worth $1,097,000 after buying an additional 370 shares during the last quarter. Finally, Winch Advisory Services LLC raised its holdings in Kraft Heinz by 20.1% in the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after acquiring an additional 380 shares during the last quarter. 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.