Wells Fargo & Company Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target lowered by analysts at Wells Fargo & Company from $25.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 0.61% from the stock’s current price.

KHC has been the subject of a number of other research reports. Barclays raised their target price on Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. downgraded shares of Kraft Heinz from a “neutral” rating to an “underweight” rating and cut their price target for the company from $24.00 to $22.00 in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Kraft Heinz from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Jefferies Financial Group decreased their price objective on shares of Kraft Heinz from $24.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. Finally, Morgan Stanley restated an “underweight” rating and set a $23.00 target price on shares of Kraft Heinz in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $24.78.

Kraft Heinz Trading Down 2.2%

NASDAQ KHC opened at $23.14 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $23.98 and a 200 day moving average price of $24.90. Kraft Heinz has a 52-week low of $21.99 and a 52-week high of $31.15. The stock has a market capitalization of $27.39 billion, a P/E ratio of -4.68 and a beta of 0.06.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 11th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Kraft Heinz had a positive return on equity of 7.07% and a negative net margin of 23.44%.The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the business posted $0.84 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. Equities research analysts expect that Kraft Heinz will post 2.68 EPS for the current year.

Insider Activity at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the sale, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cory Onell sold 4,991 shares of Kraft Heinz stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $24.34, for a total value of $121,480.94. Following the sale, the insider owned 197,463 shares of the company’s stock, valued at approximately $4,806,249.42. This represents a 2.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 139,036 shares of company stock worth $3,446,578 over the last quarter. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Kraft Heinz

Hedge funds have recently bought and sold shares of the company. Generali Asset Management SPA SGR increased its position in shares of Kraft Heinz by 192.4% during the third quarter. Generali Asset Management SPA SGR now owns 81,260 shares of the company’s stock worth $2,116,000 after acquiring an additional 53,467 shares during the last quarter. Fairfax Financial Holdings Ltd. Can boosted its holdings in Kraft Heinz by 45.4% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock valued at $126,056,000 after purchasing an additional 1,525,000 shares during the last quarter. First Horizon Corp acquired a new stake in Kraft Heinz during the 3rd quarter valued at approximately $4,678,000. Savoir Faire Capital Management L.P. purchased a new stake in Kraft Heinz during the 3rd quarter worth approximately $12,923,000. Finally, Schroder Investment Management Group increased its holdings in Kraft Heinz by 2.4% during the 3rd quarter. Schroder Investment Management Group now owns 3,263,971 shares of the company’s stock worth $84,994,000 after purchasing an additional 77,045 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.