Kraft Heinz (NASDAQ:KHC) Price Target Cut to $32.00 by Analysts at The Goldman Sachs Group

Kraft Heinz (NASDAQ:KHC) had its price objective lowered by equities researchers at The Goldman Sachs Group from $34.00 to $32.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 5.13% from the company’s previous close.

A number of other brokerages have also recently issued reports on KHC. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Barclays increased their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.08.

Kraft Heinz Price Performance

KHC opened at $33.73 on Thursday. The company’s 50 day simple moving average is $35.24 and its 200-day simple moving average is $34.86. The stock has a market capitalization of $40.96 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. Kraft Heinz has a one year low of $31.08 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period last year, the company earned $0.72 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Kraft Heinz

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz during the 1st quarter worth approximately $27,000. Fortitude Family Office LLC raised its holdings in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares during the period. DiNuzzo Private Wealth Inc. lifted its stake in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the last quarter. Bangor Savings Bank bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $32,000. Finally, Asset Dedication LLC increased its holdings in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.