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

Kraft Heinz (NASDAQ:KHC) had its target price cut by Wells Fargo & Company from $35.00 to $31.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.65% from the company’s previous close.

A number of other equities analysts also recently issued reports on KHC. Evercore ISI reissued an “in-line” rating and set a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Citigroup dropped their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Barclays dropped their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Finally, The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.91.

Kraft Heinz Stock Up 0.5 %

KHC traded up $0.15 on Tuesday, hitting $30.20. 1,259,714 shares of the company were exchanged, compared to its average volume of 6,440,816. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $36.52 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The firm has a 50-day moving average price of $31.59 and a two-hundred day moving average price of $33.43. Kraft Heinz has a twelve month low of $29.97 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities analysts predict that Kraft Heinz will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its stake in shares of Kraft Heinz by 4.2% in the 2nd quarter. TD Asset Management Inc now owns 351,158 shares of the company’s stock valued at $11,314,000 after purchasing an additional 14,100 shares in the last quarter. Candriam S.C.A. boosted its holdings in Kraft Heinz by 9.7% in the second quarter. Candriam S.C.A. now owns 93,544 shares of the company’s stock valued at $3,014,000 after acquiring an additional 8,301 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Kraft Heinz by 520.8% in the second quarter. Los Angeles Capital Management LLC now owns 35,216 shares of the company’s stock worth $1,135,000 after purchasing an additional 29,543 shares during the period. Norden Group LLC raised its holdings in Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after purchasing an additional 339 shares during the last quarter. Finally, Asset Dedication LLC lifted its position in Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. 78.17% of the stock is currently 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.