Sanford C. Bernstein Downgrades Kraft Heinz (NASDAQ:KHC) to Market Perform

Kraft Heinz (NASDAQ:KHC) was downgraded by equities research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They presently have a $31.00 price objective on the stock. Sanford C. Bernstein’s price target would indicate a potential upside of 3.54% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Cfra Research downgraded shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $36.00 to $30.00 in a research report on Thursday, February 13th. TD Cowen lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Mizuho downgraded shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $38.00 to $31.00 in a report on Monday, February 10th. Finally, UBS Group cut their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.69.

Kraft Heinz Price Performance

Shares of KHC opened at $29.94 on Tuesday. The firm has a fifty day simple moving average of $30.01 and a two-hundred day simple moving average of $31.01. The firm has a market cap of $35.73 billion, a PE ratio of 13.25, a P/E/G ratio of 3.39 and a beta of 0.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. Kraft Heinz has a 1-year low of $27.25 and a 1-year high of $38.96.

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, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. On average, equities analysts anticipate that Kraft Heinz will post 2.68 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KHC. Vanguard Group Inc. raised its holdings in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares in the last quarter. Norges Bank acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $324,857,000. Southeastern Asset Management Inc. TN acquired a new position in shares of Kraft Heinz during the fourth quarter worth $87,080,000. Fairfax Financial Holdings Ltd. Can grew its stake in Kraft Heinz by 341.9% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock worth $101,773,000 after buying an additional 2,564,000 shares during the last quarter. Finally, Criteria Caixa S.A.U. purchased a new stake in Kraft Heinz in the fourth quarter valued at about $73,316,000. 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.