HSBC Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $27.00

Kraft Heinz (NASDAQ:KHC) had its price target lowered by research analysts at HSBC from $29.00 to $27.00 in a report issued on Thursday,MarketScreener reports. HSBC’s price target indicates a potential upside of 9.14% from the company’s previous close.

KHC has been the topic of a number of other reports. TD Cowen reduced their target price on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Stifel Nicolaus lowered their target price on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. Finally, Jefferies Financial Group dropped their price target on Kraft Heinz from $28.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $26.58.

Kraft Heinz Stock Up 0.7%

Shares of NASDAQ:KHC opened at $24.74 on Thursday. The firm has a market capitalization of $29.28 billion, a P/E ratio of -6.63, a P/E/G ratio of 2.88 and a beta of 0.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The stock has a 50 day moving average price of $26.06 and a 200-day moving average price of $26.96. Kraft Heinz has a 52-week low of $24.10 and a 52-week high of $34.08.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The company had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. As a group, equities research analysts anticipate that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently modified their holdings of KHC. STF Management LP increased its position in Kraft Heinz by 2.1% during the second quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after acquiring an additional 374 shares during the last quarter. Meeder Advisory Services Inc. increased its position in shares of Kraft Heinz by 2.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company’s stock valued at $459,000 after purchasing an additional 393 shares during the last quarter. one8zero8 LLC lifted its stake in shares of Kraft Heinz by 5.5% in the 1st quarter. one8zero8 LLC now owns 7,964 shares of the company’s stock worth $242,000 after purchasing an additional 414 shares during the period. Winch Advisory Services LLC lifted its stake in shares of Kraft Heinz by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 2,691 shares of the company’s stock worth $82,000 after purchasing an additional 417 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Kraft Heinz by 8.9% in the first quarter. IFP Advisors Inc now owns 5,115 shares of the company’s stock worth $157,000 after buying an additional 420 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other 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.