Kraft Heinz (NASDAQ:KHC) Rating Increased to Outperform at BMO Capital Markets

Kraft Heinz (NASDAQ:KHCGet Rating) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Wednesday, Marketbeat.com reports. The firm presently has a $46.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 21.53% from the company’s current price.

Other equities research analysts have also issued reports about the company. Credit Suisse Group boosted their target price on Kraft Heinz from $36.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 23rd. UBS Group lowered Kraft Heinz from a “neutral” rating to a “sell” rating and dropped their price target for the company from $40.00 to $34.00 in a research report on Thursday, May 26th. StockNews.com assumed coverage on Kraft Heinz in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet raised Kraft Heinz from a “c+” rating to a “b” rating in a research report on Monday, March 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Kraft Heinz from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $39.29.

KHC stock opened at $37.85 on Wednesday. Kraft Heinz has a 52-week low of $32.78 and a 52-week high of $44.87. The company has a quick ratio of 0.68, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $46.33 billion, a PE ratio of 38.23, a P/E/G ratio of 2.73 and a beta of 0.85. The stock’s 50 day moving average is $40.00 and its two-hundred day moving average is $38.26.

Kraft Heinz (NASDAQ:KHCGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Kraft Heinz had a return on equity of 6.95% and a net margin of 4.77%. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kraft Heinz will post 2.69 EPS for the current year.

In related news, CEO Miguel Patricio sold 259,958 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $44.28, for a total transaction of $11,510,940.24. Following the completion of the transaction, the chief executive officer now owns 1,897,433 shares of the company’s stock, valued at approximately $84,018,333.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lande Rashida La sold 16,281 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $36.47, for a total value of $593,768.07. Following the transaction, the chief accounting officer now directly owns 268,174 shares of the company’s stock, valued at approximately $9,780,305.78. The disclosure for this sale can be found here. Insiders sold 305,094 shares of company stock worth $13,171,478 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Kraft Heinz by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 57,382,888 shares of the company’s stock worth $2,260,312,000 after purchasing an additional 1,491,398 shares during the last quarter. BlackRock Inc. raised its holdings in Kraft Heinz by 1.7% in the 1st quarter. BlackRock Inc. now owns 47,497,389 shares of the company’s stock valued at $1,870,923,000 after acquiring an additional 776,169 shares in the last quarter. State Street Corp raised its holdings in Kraft Heinz by 4.4% in the 1st quarter. State Street Corp now owns 33,344,178 shares of the company’s stock valued at $1,313,427,000 after acquiring an additional 1,397,795 shares in the last quarter. Invesco Ltd. raised its holdings in Kraft Heinz by 5.6% in the 4th quarter. Invesco Ltd. now owns 19,069,715 shares of the company’s stock valued at $684,605,000 after acquiring an additional 1,014,677 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Kraft Heinz by 13.2% in the 4th quarter. Geode Capital Management LLC now owns 13,708,881 shares of the company’s stock valued at $491,431,000 after acquiring an additional 1,600,993 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile (Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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