Kraft Foods Group Upgraded to “Buy” by Deutsche Bank (KRFT)
Kraft Foods Group (NASDAQ:KRFT) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $54.00 target price on the stock. Deutsche Bank’s target price suggests a potential upside of 1.41% from the company’s current price. The analysts noted that the move was a valuation call.
Kraft Foods Group (NASDAQ:KRFT) traded down 1.26% on Wednesday, hitting $53.25. The stock had a trading volume of 5,406,718 shares. Kraft Foods Group has a 52 week low of $45.61 and a 52 week high of $58.76. The stock’s 50-day moving average is $53.29 and its 200-day moving average is $54.10. The company has a market cap of $31.730 billion and a price-to-earnings ratio of 17.42.
Kraft Foods Group (NASDAQ:KRFT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.01. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter last year, the company posted $0.79 earnings per share. Kraft Foods Group’s revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that Kraft Foods Group will post $2.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 17th. Stockholders of record on Friday, December 27th will be given a dividend of 0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, December 24th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Kraft Foods Group in a research note to investors on Thursday, January 2nd. They now have a $57.00 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of Kraft Foods Group from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, December 9th. They now have a $60.00 price target on the stock, up previously from $55.00. They noted that the move was a valuation call. Finally, analysts at RBC Capital initiated coverage on shares of Kraft Foods Group in a research note to investors on Monday, November 25th. They set an “outperform” rating and a $60.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $58.38.
Kraft Foods Group, Inc (NASDAQ:KRFT) operates food and beverage businesses in North America.
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