The Kraft Heinz Company (KHC) Given Buy Rating at Royal Bank Of Canada
The Kraft Heinz Company (NASDAQ:KHC)‘s stock had its “buy” rating reiterated by Royal Bank Of Canada in a report issued on Friday. They presently have a $95.00 price objective on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 17.53% from the company’s current price.
KHC has been the topic of several other reports. BidaskClub cut The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Credit Suisse Group set a $100.00 price objective on The Kraft Heinz and gave the company a “buy” rating in a research note on Saturday, August 5th. Consumer Edge upgraded The Kraft Heinz to an “overweight” rating in a research note on Thursday, May 4th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $99.00 price objective (down from $102.00) on shares of The Kraft Heinz in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $97.26.
Shares of The Kraft Heinz (NASDAQ:KHC) opened at 80.85 on Friday. The firm’s 50-day moving average is $85.41 and its 200 day moving average is $89.18. The company has a market capitalization of $98.50 billion, a price-to-earnings ratio of 25.91 and a beta of 0.46. The Kraft Heinz has a 52-week low of $79.69 and a 52-week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The business had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the business earned $0.85 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts anticipate that The Kraft Heinz will post $3.24 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Tiedemann Wealth Management LLC raised its stake in shares of The Kraft Heinz by 6.4% in the first quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock valued at $4,291,000 after buying an additional 2,861 shares in the last quarter. Pillar Pacific Capital Management LLC raised its stake in shares of The Kraft Heinz by 7.6% in the first quarter. Pillar Pacific Capital Management LLC now owns 3,693 shares of the company’s stock valued at $335,000 after buying an additional 262 shares in the last quarter. Kwmg LLC purchased a new stake in shares of The Kraft Heinz during the first quarter valued at about $261,000. K2 Principal Fund L.P. raised its stake in shares of The Kraft Heinz by 338.8% in the first quarter. K2 Principal Fund L.P. now owns 14,507 shares of the company’s stock valued at $1,317,000 after buying an additional 11,201 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its stake in shares of The Kraft Heinz by 2.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 16,608 shares of the company’s stock valued at $1,508,000 after buying an additional 452 shares in the last quarter. 61.91% of the stock is owned by institutional investors.
The Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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