Kraft Heinz (NASDAQ:KHC) Stock Rating Upgraded by Zacks Research

Kraft Heinz (NASDAQ:KHC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on KHC. The Goldman Sachs Group decreased their price target on Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Morgan Stanley lowered their price target on shares of Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. BNP Paribas Exane cut their price target on shares of Kraft Heinz from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, December 16th. Finally, HSBC decreased their price objective on shares of Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $26.63.

Kraft Heinz Stock Up 0.6%

Shares of NASDAQ:KHC opened at $24.39 on Thursday. The company has a market cap of $28.87 billion, a price-to-earnings ratio of -6.54 and a beta of 0.09. Kraft Heinz has a fifty-two week low of $23.60 and a fifty-two week high of $33.35. The firm’s 50-day simple moving average is $24.64 and its 200-day simple moving average is $25.98. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.

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

Insiders Place Their Bets

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of Kraft Heinz stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the transaction, the insider owned 686,817 shares in the company, valued at approximately $17,046,797.94. The trade was a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. STF Management LP grew its holdings in Kraft Heinz by 2.1% in the 2nd quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after buying an additional 374 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Kraft Heinz by 15.5% in the third quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company’s stock worth $84,000 after acquiring an additional 431 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Kraft Heinz by 13.4% in the third quarter. Hantz Financial Services Inc. now owns 3,894 shares of the company’s stock valued at $101,000 after purchasing an additional 460 shares during the period. Barrett & Company Inc. grew its holdings in Kraft Heinz by 22.7% in the third quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after purchasing an additional 500 shares during the period. Finally, Bill Few Associates Inc. raised its stake in Kraft Heinz by 0.6% during the second quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock worth $2,273,000 after purchasing an additional 516 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

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.