Kraft Heinz (NASDAQ:KHC) Cut to “Underperform” at Bank of America

Kraft Heinz (NASDAQ:KHC) was downgraded by stock analysts at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $30.00 price objective on the stock, down from their prior price objective of $36.00. Bank of America‘s price target would indicate a potential upside of 4.82% from the stock’s previous close.

Several other research analysts have also issued reports on KHC. Wells Fargo & Company cut their price target on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Citigroup decreased their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group cut their target price on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. TD Cowen lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average price target of $32.07.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $28.62 on Thursday. The stock’s 50 day moving average price is $30.02 and its two-hundred day moving average price is $32.83. The stock has a market capitalization of $34.61 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.74 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. Kraft Heinz has a 52-week low of $27.25 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. On average, equities analysts predict that Kraft Heinz will post 3 earnings per share for the current year.

Institutional Trading of Kraft Heinz

Hedge funds and other institutional investors have recently modified their holdings of the business. Fortitude Family Office LLC boosted its holdings in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz during the 3rd quarter worth about $27,000. Sawyer & Company Inc bought a new position in Kraft Heinz in the 4th quarter worth about $25,000. Generali Investments Management Co LLC purchased a new position in Kraft Heinz during the 4th quarter valued at about $26,000. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Company Profile

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.