Piper Sandler Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price decreased by equities researchers at Piper Sandler from $35.00 to $31.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 7.36% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the company from $34.00 to $28.00 in a research report on Thursday. Wells Fargo & Company decreased their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. Jefferies Financial Group dropped their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.64.

Kraft Heinz Stock Performance

NASDAQ:KHC traded up $0.25 during midday trading on Thursday, reaching $28.87. The stock had a trading volume of 3,714,873 shares, compared to its average volume of 9,531,576. The stock has a market capitalization of $34.91 billion, a P/E ratio of 26.02, a PEG ratio of 3.74 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. Kraft Heinz has a 1-year low of $27.25 and a 1-year high of $38.96. The firm’s fifty day simple moving average is $29.98 and its 200-day simple moving average is $32.80.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 research analysts forecast that Kraft Heinz will post 3 EPS for the current fiscal year.

Institutional Trading of Kraft Heinz

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sawyer & Company Inc bought a new stake in shares of Kraft Heinz during the fourth quarter worth about $25,000. Fortitude Family Office LLC lifted its position in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the last quarter. Generali Investments Management Co LLC bought a new position in shares of Kraft Heinz during the 4th quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz in the 3rd quarter valued at about $27,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Kraft Heinz during the fourth quarter valued at about $29,000. 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.