The Kraft Heinz Company (NASDAQ:KHC) has been given a $100.00 target price by analysts at Credit Suisse Group in a research report issued to clients and investors on Sunday. The brokerage currently has a “buy” rating on the stock. Credit Suisse Group’s price objective indicates a potential upside of 21.14% from the company’s previous close.
Other analysts have also recently issued research reports about the company. BidaskClub cut The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada set a $96.00 price objective on The Kraft Heinz and gave the stock a “buy” rating in a research report on Saturday, June 3rd. BMO Capital Markets reiterated a “hold” rating and set a $96.00 price objective on shares of The Kraft Heinz in a research report on Wednesday, September 6th. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $99.00 price objective (down previously from $102.00) on shares of The Kraft Heinz in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $97.26.
The Kraft Heinz (NASDAQ KHC) opened at 82.55 on Friday. The Kraft Heinz has a 12 month low of $79.69 and a 12 month high of $97.77. The firm has a market cap of $100.57 billion, a PE ratio of 26.46 and a beta of 0.45. The stock’s 50 day moving average is $84.91 and its 200 day moving average is $88.89.
The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The business had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities analysts forecast that The Kraft Heinz will post $3.24 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. BlackRock Inc. lifted its stake in shares of The Kraft Heinz by 2,314.8% in the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after purchasing an additional 31,204,852 shares in the last quarter. Morgan Stanley lifted its stake in shares of The Kraft Heinz by 55.6% in the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after purchasing an additional 2,988,664 shares in the last quarter. FMR LLC lifted its stake in shares of The Kraft Heinz by 30.0% in the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after purchasing an additional 2,659,846 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of The Kraft Heinz by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after purchasing an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of The Kraft Heinz in the 2nd quarter valued at about $102,151,000. 61.91% of the stock is currently owned by institutional investors and hedge funds.
About The Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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