Kraft Heinz (NASDAQ:KHC) Hits New 1-Year Low – What’s Next?

The Kraft Heinz Company (NASDAQ:KHC) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $28.31 and last traded at $28.44, with a volume of 2109879 shares changing hands. The stock had previously closed at $28.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KHC. Wells Fargo & Company lowered their target price on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, UBS Group cut their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $34.07.

Kraft Heinz Price Performance

The stock has a market cap of $34.44 billion, a PE ratio of 25.66, a PEG ratio of 3.82 and a beta of 0.47. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $30.29 and a 200 day moving average price of $32.97.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC raised its stake in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at about $27,000. Sawyer & Company Inc bought a new stake in Kraft Heinz during the 4th quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. grew its position in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in Kraft Heinz in the 3rd quarter worth approximately $32,000. 78.17% of the stock is owned by institutional investors.

About Kraft Heinz

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.