Kraft Heinz (NASDAQ:KHC) Rating Lowered to “Hold” at Deutsche Bank Aktiengesellschaft

Kraft Heinz (NASDAQ:KHC) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, FinViz reports. They currently have a $35.00 price target on the stock, down from their prior price target of $39.00. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 3.77% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Citigroup decreased their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Bank of America dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.25.

Kraft Heinz Stock Down 3.1 %

Shares of Kraft Heinz stock opened at $33.73 on Thursday. The company has a fifty day moving average price of $35.24 and a 200 day moving average price of $34.86. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. Kraft Heinz has a twelve month low of $31.08 and a twelve month high of $38.96. The stock has a market cap of $40.96 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Equities research analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

A number of large investors have recently added to or reduced their stakes in the business. LSV Asset Management boosted its holdings in Kraft Heinz by 2.1% during the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after buying an additional 189,000 shares in the last quarter. Legal & General Group Plc boosted its holdings in Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after buying an additional 799,581 shares in the last quarter. Capital World Investors boosted its holdings in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Kraft Heinz by 14.2% during the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock worth $130,912,000 after buying an additional 505,180 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

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.