TheStreet Downgrades Kraft Heinz (NASDAQ:KHC) to D+

Kraft Heinz (NASDAQ:KHC) was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on Kraft Heinz from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Co upgraded Kraft Heinz from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $38.00 in a research report on Thursday, April 16th. Goldman Sachs Group cut Kraft Heinz from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $32.00 to $30.00 in a research report on Monday, June 22nd. Deutsche Bank upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, July 16th. Finally, Piper Sandler upgraded Kraft Heinz from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $39.00 in a report on Tuesday. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $32.95.

Shares of NASDAQ:KHC traded down $0.01 during midday trading on Thursday, hitting $34.38. 11,209,466 shares of the stock were exchanged, compared to its average volume of 5,762,332. The stock has a market cap of $42.01 billion, a P/E ratio of -229.20, a PEG ratio of 2.36 and a beta of 1.01. The company has a current ratio of 1.09, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. Kraft Heinz has a twelve month low of $19.99 and a twelve month high of $35.87. The company has a 50 day moving average price of $32.93 and a 200-day moving average price of $29.36.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.15. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. On average, equities research analysts expect that Kraft Heinz will post 2.43 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in KHC. Harwood Advisory Group LLC acquired a new position in Kraft Heinz during the 1st quarter worth approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Kraft Heinz by 323.5% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,080 shares of the company’s stock valued at $27,000 after acquiring an additional 825 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Kraft Heinz by 38.4% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,246 shares of the company’s stock valued at $31,000 after acquiring an additional 346 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Kraft Heinz in the 2nd quarter valued at approximately $31,000. Finally, Bartlett & Co. LLC bought a new stake in shares of Kraft Heinz in the 1st quarter valued at approximately $33,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

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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