Kraft Foods Group Stock Rating Reaffirmed by Credit Suisse (KRFT)
Kraft Foods Group (NASDAQ:KRFT)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse in a note issued to investors on Thursday. They currently have a $63.00 target price on the stock, down from their previous target price of $65.00. Credit Suisse’s price target would suggest a potential upside of 17.57% from the stock’s previous close.
A number of other analysts have also recently weighed in on KRFT. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Kraft Foods Group in a research note on Thursday. They now have a $57.00 price target on the stock, down previously from $58.00. Separately, analysts at Credit Agricole downgraded shares of Kraft Foods Group from an “outperform” rating to an “underperform” rating in a research note on Thursday. Finally, analysts at Deutsche Bank downgraded shares of Kraft Foods Group from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $59.00 price target on the stock, down previously from $62.00. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $60.22.
Kraft Foods Group (NASDAQ:KRFT) traded down 6.39% during mid-day trading on Thursday, hitting $53.585. 10,523,896 shares of the company’s stock traded hands. Kraft Foods Group has a 52-week low of $50.54 and a 52-week high of $61.10. The stock’s 50-day moving average is $59.3 and its 200-day moving average is $56.73. The company has a market cap of $31.899 billion and a price-to-earnings ratio of 12.45.
Kraft Foods Group (NASDAQ:KRFT) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.83 by $0.03. The company had revenue of $4.75 million for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Kraft Foods Group will post $3.19 EPS for the current fiscal year.
Kraft Foods Group, Inc (NASDAQ:KRFT) operates food and beverage businesses in North America.
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