Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $32.00 at JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price target trimmed by JPMorgan Chase & Co. from $36.00 to $32.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group cut their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday. TD Cowen cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler reissued a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Stifel Nicolaus cut their price objective on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, The Goldman Sachs Group decreased their target price 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $34.07.

Kraft Heinz Trading Down 1.4 %

Shares of KHC opened at $29.84 on Friday. The firm has a market capitalization of $36.08 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. Kraft Heinz has a 1-year low of $28.37 and a 1-year high of $38.96. The company has a 50-day moving average of $30.41 and a 200 day moving average of $33.03.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results 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. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the company posted $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, research analysts expect that Kraft Heinz will post 3 EPS for the current year.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated 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 owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MADDEN SECURITIES Corp increased its holdings in shares of Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the last quarter. Axiom Advisory LLC increased its stake in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after acquiring an additional 327 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Kraft Heinz by 3.6% during the 3rd quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock worth $365,000 after acquiring an additional 358 shares during the period. Winch Advisory Services LLC boosted its position in shares of Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock valued at $70,000 after acquiring an additional 380 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of Kraft Heinz by 4.2% in the third quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock valued at $336,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.