Kraft Heinz (KHC) Upgraded at BidaskClub

Kraft Heinz (NASDAQ:KHC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

A number of other equities analysts have also weighed in on KHC. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Bank of America set a $85.00 target price on Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Kraft Heinz in a research report on Tuesday, August 7th. Morgan Stanley initiated coverage on Kraft Heinz in a research report on Monday, September 17th. They issued an “underweight” rating and a $52.00 target price for the company. Finally, Credit Suisse Group raised Kraft Heinz to a “hold” rating and set a $52.00 target price for the company in a research report on Thursday, October 4th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $72.02.

KHC opened at $57.06 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $67.19 billion, a PE ratio of 16.07, a P/E/G ratio of 1.88 and a beta of 0.51. Kraft Heinz has a 1 year low of $54.11 and a 1 year high of $82.48.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Kraft Heinz’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that Kraft Heinz will post 3.71 earnings per share for the current fiscal year.

In related news, EVP Eduardo Pelleissone sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Boenning & Scattergood Inc. grew its stake in shares of Kraft Heinz by 24.2% during the 3rd quarter. Boenning & Scattergood Inc. now owns 6,435 shares of the company’s stock valued at $355,000 after acquiring an additional 1,253 shares during the period. Radnor Capital Management LLC boosted its stake in Kraft Heinz by 3.1% in the 3rd quarter. Radnor Capital Management LLC now owns 35,049 shares of the company’s stock worth $1,932,000 after purchasing an additional 1,038 shares during the period. Park National Corp OH boosted its stake in Kraft Heinz by 277.8% in the 3rd quarter. Park National Corp OH now owns 29,012 shares of the company’s stock worth $1,599,000 after purchasing an additional 21,332 shares during the period. Northern Trust Corp boosted its stake in Kraft Heinz by 3.3% in the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock worth $452,592,000 after purchasing an additional 230,493 shares during the period. Finally, Andesa Financial Management Inc. boosted its stake in Kraft Heinz by 9.4% in the 2nd quarter. Andesa Financial Management Inc. now owns 14,117 shares of the company’s stock worth $886,000 after purchasing an additional 1,212 shares during the period. Institutional investors own 62.82% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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