The Kraft Heinz Company (KHC) PT Lowered to $92.00 at Morgan Stanley
The Kraft Heinz Company (NASDAQ:KHC) had its target price cut by equities researchers at Morgan Stanley from $95.00 to $92.00 in a research report issued to clients and investors on Friday. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 17.72% from the stock’s current price.
Other equities analysts have also issued reports about the company. TheStreet raised The Kraft Heinz from a “c” rating to a “b-” rating in a research report on Thursday, August 3rd. Berenberg Bank set a $102.00 target price on The Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 7th. Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the company a “buy” rating in a research report on Saturday, August 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $95.00 target price on shares of The Kraft Heinz in a research report on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price on shares of The Kraft Heinz in a research report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $95.53.
Shares of The Kraft Heinz (NASDAQ KHC) traded down 0.198% during trading on Friday, reaching $77.995. 663,012 shares of the company’s stock traded hands. The stock has a market capitalization of $95.02 billion, a PE ratio of 24.998 and a beta of 0.44. The Kraft Heinz has a 1-year low of $76.76 and a 1-year high of $97.77. The company has a 50 day moving average price of $79.18 and a 200 day moving average price of $79.18.
The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the company posted $0.85 EPS. The Kraft Heinz’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts forecast that The Kraft Heinz will post $3.24 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Westside Investment Management Inc. grew its stake in The Kraft Heinz by 16.6% during the 2nd quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock worth $100,000 after buying an additional 172 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in The Kraft Heinz by 287.9% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock worth $110,000 after buying an additional 950 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in The Kraft Heinz during the 2nd quarter worth $121,000. V Wealth Management LLC bought a new position in The Kraft Heinz during the 2nd quarter worth $125,000. Finally, Blue Chip Partners Inc. grew its stake in The Kraft Heinz by 0.5% during the 1st quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.
About The Kraft Heinz
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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