TD Cowen Lowers Kraft Heinz (NASDAQ:KHC) Price Target to $26.00

Kraft Heinz (NASDAQ:KHC) had its price target dropped by investment analysts at TD Cowen from $28.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential upside of 5.09% from the company’s previous close.

Other analysts also recently issued reports about the company. Mizuho decreased their price objective on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday. Jefferies Financial Group decreased their price objective on Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. JPMorgan Chase & Co. assumed coverage on Kraft Heinz in a report on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 price objective for the company. UBS Group decreased their price objective on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $26.56.

Kraft Heinz Stock Up 0.7%

NASDAQ:KHC opened at $24.74 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $26.06 and a 200-day simple moving average of $26.98. The company has a market cap of $29.28 billion, a price-to-earnings ratio of -6.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. Kraft Heinz has a twelve month low of $24.10 and a twelve month high of $34.08.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The firm had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. Analysts anticipate that Kraft Heinz will post 2.68 EPS for the current year.

Institutional Investors Weigh In On Kraft Heinz

A number of large investors have recently modified their holdings of KHC. Vanguard Group Inc. grew its stake in shares of Kraft Heinz by 12.7% during the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock worth $3,103,277,000 after acquiring an additional 11,472,071 shares during the last quarter. Norges Bank purchased a new stake in shares of Kraft Heinz during the second quarter worth about $276,159,000. Pacer Advisors Inc. grew its stake in shares of Kraft Heinz by 4,390.7% during the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock worth $226,523,000 after acquiring an additional 7,278,295 shares during the last quarter. Nordea Investment Management AB grew its stake 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 acquiring an additional 5,873,967 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Kraft Heinz by 14.7% during the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after acquiring an additional 3,392,470 shares during the last quarter. Hedge funds and other 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.