Kraft Heinz (KHC) Given a $49.00 Price Target by Morgan Stanley Analysts

Kraft Heinz (NASDAQ:KHC) received a $49.00 price objective from equities research analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. The firm presently has a “sell” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 8.68% from the company’s current price.

KHC has been the topic of several other research reports. Zacks Investment Research lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. Bank of America set a $85.00 price target on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 6th. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BMO Capital Markets cut their price target on shares of Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Susquehanna Bancshares reiterated a “negative” rating and issued a $47.00 price target (down from $59.00) on shares of Kraft Heinz in a research report on Friday, November 2nd. Five analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.09.

Shares of NASDAQ KHC traded up $0.35 during mid-day trading on Wednesday, hitting $53.66. The company’s stock had a trading volume of 279,634 shares, compared to its average volume of 7,926,810. The firm has a market capitalization of $65.19 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.91 and a beta of 0.45. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. Kraft Heinz has a one year low of $50.41 and a one year high of $82.48.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.31 billion. Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $0.83 EPS. As a group, equities research analysts anticipate that Kraft Heinz will post 3.65 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Magellan Asset Management Ltd raised its holdings in Kraft Heinz by 39.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after buying an additional 9,529,235 shares during the period. FMR LLC raised its holdings in Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after buying an additional 2,111,198 shares during the period. Northern Trust Corp raised its holdings in Kraft Heinz by 3.3% during the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock worth $452,592,000 after buying an additional 230,493 shares during the period. Federated Investors Inc. PA raised its holdings in Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after buying an additional 3,398,664 shares during the period. Finally, Legal & General Group Plc raised its holdings in Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after buying an additional 93,997 shares during the period. Hedge funds and other institutional investors own 63.22% 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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