Kraft Heinz (NASDAQ:KHC) Lowered to “Neutral” Rating by Citigroup

Kraft Heinz (NASDAQ:KHC) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They currently have a $28.00 price objective on the stock, down from their previous price objective of $34.00. Citigroup’s target price suggests a potential downside of 2.17% from the company’s previous close.

A number of other analysts also recently issued reports on KHC. TD Cowen cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $36.00 to $30.00 in a report on Thursday. Piper Sandler reissued a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Barclays cut their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $32.07.

Kraft Heinz Stock Down 3.2 %

KHC stock opened at $28.62 on Thursday. 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 firm has a 50-day moving average of $30.02 and a two-hundred day moving average of $32.83. Kraft Heinz has a 12 month low of $27.25 and a 12 month high of $38.96. The company has a market cap of $34.61 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.74 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS 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, analysts forecast that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently added to or reduced their stakes in KHC. AMF Tjanstepension AB raised its holdings in Kraft Heinz by 143.4% in the third quarter. AMF Tjanstepension AB now owns 245,522 shares of the company’s stock valued at $8,620,000 after buying an additional 144,646 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Kraft Heinz by 221.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company’s stock worth $36,000 after acquiring an additional 700 shares in the last quarter. CX Institutional purchased a new position in Kraft Heinz in the third quarter valued at about $340,000. Wesbanco Bank Inc. lifted its position in Kraft Heinz by 17.3% during the 3rd quarter. Wesbanco Bank Inc. now owns 11,281 shares of the company’s stock worth $396,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Kraft Heinz by 6.9% during the third quarter. Swedbank AB now owns 775,689 shares of the company’s stock worth $27,234,000 after purchasing an additional 50,063 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.