Kraft Heinz (NASDAQ:KHC) Given New $38.00 Price Target at Citigroup

Kraft Heinz (NASDAQ:KHC) had its price objective dropped by equities researchers at Citigroup from $39.00 to $38.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 13.47% from the stock’s previous close.

Several other research analysts have also recently commented on KHC. Piper Sandler reduced their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Bank of America dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.15.

Kraft Heinz Price Performance

Shares of KHC opened at $33.49 on Thursday. The company has a 50 day moving average of $35.15 and a 200-day moving average of $34.83. The company has a quick ratio of 0.53, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $40.49 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 0.49. Kraft Heinz has a twelve month low of $31.58 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Clifford Capital Partners LLC increased its position in Kraft Heinz by 21.4% during the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after acquiring an additional 80,101 shares during the period. Lazard Asset Management LLC raised its position in shares of Kraft Heinz by 13.2% in the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after buying an additional 234,783 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $654,000. MBB Public Markets I LLC bought a new stake in shares of Kraft Heinz in the second quarter valued at approximately $2,001,000. Finally, Sei Investments Co. grew its position in Kraft Heinz by 12.8% during the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after buying an additional 86,311 shares in the last quarter. Institutional investors 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.