JPMorgan Chase & Co. Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by analysts at JPMorgan Chase & Co. from $32.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 7.19% from the stock’s previous close.

Several other brokerages have also issued reports on KHC. TD Cowen cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Piper Sandler cut their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Citigroup lowered shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their target price for the company from $34.00 to $28.00 in a research report on Thursday. Finally, The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $28.92 on Thursday. The company has a 50 day moving average price of $29.94 and a 200-day moving average price of $32.77. Kraft Heinz has a 52 week low of $27.25 and a 52 week high of $38.96. The firm has a market capitalization of $34.97 billion, a PE ratio of 26.05, a P/E/G ratio of 3.74 and a beta of 0.47. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. As a group, equities research analysts expect that Kraft Heinz will post 3 earnings per share for the current year.

Institutional Investors Weigh In On Kraft Heinz

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock valued at $5,988,000 after purchasing an additional 58,665 shares in the last quarter. Brookstone Capital Management raised its stake in Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after purchasing an additional 238,913 shares in the last quarter. Easterly Investment Partners LLC raised its stake in Kraft Heinz by 39.4% during the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after purchasing an additional 44,485 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Kraft Heinz by 12.6% during the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock valued at $17,132,000 after purchasing an additional 54,656 shares in 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.