Kraft Heinz (NASDAQ:KHC) Price Target Cut to $23.00 by Analysts at UBS Group

Kraft Heinz (NASDAQ:KHC) had its target price reduced by stock analysts at UBS Group from $25.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential downside of 1.10% from the company’s current price.

A number of other research firms also recently weighed in on KHC. Sanford C. Bernstein lifted their target price on Kraft Heinz from $24.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research note on Thursday, January 22nd. Mizuho dropped their price target on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Jefferies Financial Group dropped their price target on Kraft Heinz from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, Barclays boosted their price target on Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Reduce” and an average target price of $23.59.

Kraft Heinz Stock Performance

Shares of KHC traded down $0.32 during midday trading on Tuesday, reaching $23.26. 7,883,183 shares of the stock were exchanged, compared to its average volume of 16,576,785. Kraft Heinz has a twelve month low of $21.03 and a twelve month high of $30.42. 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 company has a market cap of $27.53 billion, a P/E ratio of -4.70 and a beta of 0.07. The stock’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $24.30.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 11th. The company reported $0.67 earnings per share 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, sell-side analysts expect that Kraft Heinz will post 2.68 earnings per share for the current year.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,991 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $24.34, for a total transaction of $121,480.94. Following the sale, the insider directly owned 197,463 shares in the company, valued at approximately $4,806,249.42. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Kraft Heinz

Several hedge funds and other institutional investors have recently made changes to their positions in KHC. Auto Owners Insurance Co grew its holdings in shares of Kraft Heinz by 3,034.1% during the fourth quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company’s stock worth $39,957,000 after purchasing an additional 15,951,271 shares during the last quarter. Norges Bank bought a new stake in shares of Kraft Heinz during the fourth quarter worth about $332,382,000. Nordea Investment Management AB grew its holdings in shares of Kraft Heinz by 75.1% during the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock worth $351,263,000 after purchasing an additional 5,873,967 shares during the last quarter. Barclays PLC grew its holdings in shares of Kraft Heinz by 77.8% during the fourth quarter. Barclays PLC now owns 8,973,146 shares of the company’s stock worth $217,599,000 after purchasing an additional 3,926,141 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Kraft Heinz by 10.5% during the fourth quarter. Invesco Ltd. now owns 19,725,662 shares of the company’s stock worth $478,347,000 after purchasing an additional 1,870,310 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

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.