Wells Fargo & Company Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target decreased by investment analysts at Wells Fargo & Company from $31.00 to $30.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 4.49% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Evercore ISI reiterated an “in-line” rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Mizuho cut shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $38.00 to $31.00 in a research report on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.93.

Kraft Heinz Trading Up 0.3 %

KHC stock traded up $0.09 during trading on Thursday, reaching $28.71. 2,905,193 shares of the stock were exchanged, compared to its average volume of 9,493,048. The business has a 50 day moving average price of $29.98 and a 200-day moving average price of $32.80. Kraft Heinz has a 1 year low of $27.25 and a 1 year high of $38.96. 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 market capitalization of $34.72 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 3.74 and a beta of 0.47.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont increased its stake in Kraft Heinz by 3.6% in the third quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock valued at $365,000 after purchasing an additional 358 shares during the last quarter. New York Life Investment Management LLC grew its position in shares of Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after buying an additional 361 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Kraft Heinz by 5.3% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after acquiring an additional 366 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Kraft Heinz by 1.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock valued at $1,097,000 after acquiring an additional 370 shares in the last quarter. Finally, Winch Advisory Services LLC grew its holdings in shares of Kraft Heinz by 20.1% during the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after purchasing an additional 380 shares during the last quarter. 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.