Barclays Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price lowered by investment analysts at Barclays from $36.00 to $35.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 4.60% from the stock’s previous close.

Several other equities analysts have also recently issued reports on KHC. Bank of America decreased their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $35.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $37.15.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC remained flat at $33.46 during mid-day trading on Friday. The company had a trading volume of 2,045,499 shares, compared to its average volume of 7,759,000. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 3.30 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06. The stock’s fifty day moving average price is $35.20 and its 200 day moving average price is $34.85. Kraft Heinz has a 52-week low of $31.58 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Equities research analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MADDEN SECURITIES Corp boosted its position in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after acquiring an additional 303 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Kraft Heinz by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares during the last quarter. Axiom Advisory LLC grew its stake in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after buying an additional 327 shares during the period. Lorne Steinberg Wealth Management Inc. increased its holdings in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after buying an additional 335 shares during the last quarter. Finally, Norden Group LLC raised its position in shares of Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after buying an additional 339 shares during the period. Institutional investors and hedge funds 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.