Kraft Heinz (NASDAQ:KHC) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Kraft Heinz (NASDAQ:KHC) in a research note issued on Monday,Benzinga reports. The firm set an “underweight” rating and a $29.00 price target on the stock. Morgan Stanley’s price target indicates a potential downside of 1.76% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. TD Cowen lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI reiterated an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. UBS Group decreased their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler decreased their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $30.73.

Kraft Heinz Trading Down 0.6 %

Shares of NASDAQ:KHC opened at $29.52 on Monday. The stock’s 50-day simple moving average is $29.92 and its two-hundred day simple moving average is $31.90. The stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 3.39 and a beta of 0.40. Kraft Heinz has a 52-week low of $27.25 and a 52-week high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Analysts expect that Kraft Heinz will post 2.68 EPS for the current year.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors have recently added to or reduced their stakes in the company. Sawyer & Company Inc purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $25,000. Generali Investments Management Co LLC bought a new position in Kraft Heinz during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Kraft Heinz in the 4th quarter worth about $29,000. Larson Financial Group LLC raised its position in shares of Kraft Heinz by 191.0% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 636 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors 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.