The Kraft Heinz Company (NASDAQ:KHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Shares of Kraft Heinz underperformed its industry in the last six months. Estimates are also trending downward for 2017 and 2018 over the last 60 days. Kraft Heinz, like many other U.S. food producers, has been struggling due to the shift in consumer preference toward natural and organic ingredients over packaged and processed food. This, along with soft spending by U.S. shoppers, are hurting the company’s categories. The company is witnessing top-line weakness for the last several quarters. Again, unfavorable currency translation is a major headwind for Kraft Heinz, which is likely to hurt results in 2017.”

Several other equities analysts also recently issued reports on KHC. Royal Bank Of Canada reissued a “buy” rating and set a $95.00 price objective on shares of The Kraft Heinz in a research note on Tuesday, October 3rd. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of The Kraft Heinz in a research note on Wednesday, August 9th. Berenberg Bank set a $102.00 price objective on shares of The Kraft Heinz and gave the company a “buy” rating in a research note on Monday, August 7th. Goldman Sachs Group, Inc. (The) downgraded shares of The Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the stock from $95.00 to $87.00 in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies raised shares of The Kraft Heinz from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $92.00 to $90.00 in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $96.36.

The Kraft Heinz (NASDAQ:KHC) traded down 0.04% during mid-day trading on Wednesday, hitting $78.11. 1,694,914 shares of the stock traded hands. The Kraft Heinz has a 12 month low of $76.76 and a 12 month high of $97.77. The company has a market cap of $95.16 billion, a price-to-earnings ratio of 25.04 and a beta of 0.44. The stock’s 50 day moving average is $79.28 and its 200-day moving average is $79.28.

The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, equities research analysts anticipate that The Kraft Heinz will post $3.24 EPS for the current year.

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Several hedge funds have recently modified their holdings of KHC. Westside Investment Management Inc. raised its stake in shares of The Kraft Heinz by 16.6% in the 2nd quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock valued at $100,000 after acquiring an additional 172 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of The Kraft Heinz by 287.9% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock valued at $110,000 after acquiring an additional 950 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in shares of The Kraft Heinz in the 2nd quarter valued at $121,000. V Wealth Management LLC purchased a new position in shares of The Kraft Heinz in the 2nd quarter valued at $125,000. Finally, Blue Chip Partners Inc. grew its holdings in The Kraft Heinz by 0.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock valued at $127,000 after purchasing an additional 8 shares in the last quarter. 61.80% 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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