Kraft Heinz (NASDAQ:KHC) Price Target Cut to $25.00 by Analysts at BNP Paribas Exane

Kraft Heinz (NASDAQ:KHC) had its target price dropped by research analysts at BNP Paribas Exane from $26.00 to $25.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. BNP Paribas Exane’s price target suggests a potential upside of 2.04% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler boosted their price target on Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. HSBC dropped their price target on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Finally, Sanford C. Bernstein reduced their price objective on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $26.63.

Kraft Heinz Trading Up 0.2%

KHC stock opened at $24.50 on Tuesday. Kraft Heinz has a 52 week low of $23.70 and a 52 week high of $33.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. The company’s 50-day simple moving average is $24.93 and its 200 day simple moving average is $26.19. The company has a market capitalization of $29.00 billion, a PE ratio of -6.57 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The firm had revenue of $6.39 billion for the quarter. As a group, sell-side analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current year.

Hedge Funds Weigh In On Kraft Heinz

Large investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Kraft Heinz in the second quarter worth $276,159,000. Nordea Investment Management AB increased its stake in shares of Kraft Heinz by 75.1% in the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after buying an additional 5,873,967 shares during the period. Geode Capital Management LLC raised its position in shares of Kraft Heinz by 14.7% during the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after acquiring an additional 3,392,470 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Kraft Heinz by 22.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock valued at $318,933,000 after purchasing an additional 1,895,722 shares during the period. Finally, Marshall Wace LLP raised its holdings in Kraft Heinz by 1,645.9% during the 2nd quarter. Marshall Wace LLP now owns 1,880,281 shares of the company’s stock worth $48,549,000 after purchasing an additional 1,772,581 shares during the last quarter. Institutional investors 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.