The Kraft Heinz Company (KHC) Earns Buy Rating from UBS AG
UBS AG reissued their buy rating on shares of The Kraft Heinz Company (NASDAQ:KHC) in a research report report published on Friday morning, www.benzinga.com reports. UBS AG currently has a $89.00 price target on the stock, down from their prior price target of $97.00.
Several other research analysts also recently commented on KHC. Berenberg Bank set a $102.00 target price on shares of The Kraft Heinz and gave the stock a buy rating in a report on Monday, August 7th. Susquehanna Bancshares Inc restated a neutral rating and set a $85.00 price objective (down previously from $94.00) on shares of The Kraft Heinz in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of The Kraft Heinz from a hold rating to a sell rating in a report on Wednesday, October 11th. Royal Bank Of Canada restated a buy rating and set a $95.00 price objective on shares of The Kraft Heinz in a report on Tuesday, October 3rd. Finally, TheStreet upgraded shares of The Kraft Heinz from a c rating to a b- rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $95.53.
Shares of The Kraft Heinz (NASDAQ KHC) opened at 77.65 on Friday. The Kraft Heinz has a 52 week low of $76.76 and a 52 week high of $97.77. The firm has a market capitalization of $94.60 billion, a P/E ratio of 24.89 and a beta of 0.44. The stock’s 50 day moving average price is $79.73 and its 200 day moving average price is $86.54.
The Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. On average, analysts predict that The Kraft Heinz will post $3.24 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in KHC. BlackRock Inc. boosted its position in The Kraft Heinz by 2,314.8% in the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after buying an additional 31,204,852 shares in the last quarter. Morgan Stanley boosted its position in The Kraft Heinz by 55.6% in the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after buying an additional 2,988,664 shares in the last quarter. FMR LLC boosted its position in The Kraft Heinz by 30.0% in the second quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after buying an additional 2,659,846 shares in the last quarter. Vanguard Group Inc. boosted its position in The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after buying an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in The Kraft Heinz in the second quarter valued at about $102,151,000. Hedge funds and other institutional investors own 61.76% of the company’s stock.
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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