Kraft Heinz Company (NASDAQ:KHC) Receives Consensus Rating of “Reduce” from Analysts

Kraft Heinz Company (NASDAQ:KHC) has been assigned an average rating of “Reduce” from the twenty-three research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $26.1579.

A number of equities research analysts have recently issued reports on KHC shares. Barclays dropped their target price on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. TD Cowen dropped their price target on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Zacks Research raised Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th.

Kraft Heinz Trading Down 1.0%

KHC stock opened at $23.50 on Thursday. Kraft Heinz has a 12-month low of $21.99 and a 12-month high of $33.35. The business’s 50-day moving average is $24.11 and its 200 day moving average is $25.53. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of -6.30 and a beta of 0.08.

Insider Buying and Selling at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the sale, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently bought and sold shares of the company. Shell Asset Management Co. grew its stake in shares of Kraft Heinz by 89.7% during the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock worth $2,335,000 after purchasing an additional 42,758 shares in the last quarter. Generali Asset Management SPA SGR lifted its holdings in Kraft Heinz by 192.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 81,260 shares of the company’s stock worth $2,116,000 after buying an additional 53,467 shares during the last quarter. Fairfax Financial Holdings Ltd. Can boosted its position in shares of Kraft Heinz by 45.4% during the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock worth $126,056,000 after acquiring an additional 1,525,000 shares in the last quarter. Lakeshore Capital Group Inc. increased its holdings in shares of Kraft Heinz by 39.8% in the 2nd quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock valued at $957,000 after acquiring an additional 10,551 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth about $4,678,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.