The Kraft Heinz Company (KHC) Rating Reiterated by BMO Capital Markets
The Kraft Heinz Company (NASDAQ:KHC)‘s stock had its “hold” rating reissued by investment analysts at BMO Capital Markets in a research note issued to investors on Wednesday. They currently have a $96.00 price objective on the stock. BMO Capital Markets’ price target points to a potential upside of 18.04% from the stock’s previous close.
Several other research firms have also issued reports on KHC. Zacks Investment Research lowered shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of The Kraft Heinz in a research report on Tuesday, August 1st. Berenberg Bank started coverage on shares of The Kraft Heinz in a research report on Wednesday, June 7th. They set a “buy” rating and a $102.00 price target on the stock. BidaskClub lowered shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Piper Jaffray Companies set a $92.00 price target on shares of The Kraft Heinz and gave the stock a “hold” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The Kraft Heinz has an average rating of “Buy” and an average target price of $97.26.
Shares of The Kraft Heinz (NASDAQ KHC) traded up 0.11% on Wednesday, hitting $81.42. The company’s stock had a trading volume of 2,182,580 shares. The stock’s 50-day moving average price is $85.15 and its 200-day moving average price is $89.00. The Kraft Heinz has a 52 week low of $79.69 and a 52 week high of $97.77. The firm has a market cap of $99.19 billion, a price-to-earnings ratio of 26.10 and a beta of 0.45.
The Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts expect that The Kraft Heinz will post $3.24 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. acquired a new position in shares of The Kraft Heinz in the second quarter valued at $270,000. M Holdings Securities Inc. acquired a new position in shares of The Kraft Heinz in the second quarter valued at $221,000. Griffin Asset Management Inc. acquired a new position in shares of The Kraft Heinz in the second quarter valued at $763,000. Navellier & Associates Inc increased its holdings in shares of The Kraft Heinz by 3.8% in the second quarter. Navellier & Associates Inc now owns 21,963 shares of the company’s stock valued at $1,881,000 after purchasing an additional 803 shares during the last quarter. Finally, WFG Advisors LP increased its holdings in shares of The Kraft Heinz by 13.4% in the second quarter. WFG Advisors LP now owns 4,385 shares of the company’s stock valued at $376,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 61.91% of the company’s stock.
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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