Wells Fargo & Company Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by equities researchers at Wells Fargo & Company from $31.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 3.73% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday. TD Cowen dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group reduced their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Finally, Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $28.92 on Thursday. The company’s 50-day moving average price is $29.94 and its 200-day moving average price is $32.77. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market cap of $34.97 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. Kraft Heinz has a twelve month low of $27.25 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. On average, equities research analysts forecast that Kraft Heinz will post 3 EPS for the current fiscal year.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently bought and sold shares of KHC. Fortitude Family Office LLC increased its holdings in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the third quarter valued at about $27,000. Sawyer & Company Inc purchased a new position in Kraft Heinz in the fourth quarter valued at about $25,000. Generali Investments Management Co LLC bought a new position in Kraft Heinz in the fourth quarter worth about $26,000. Finally, DiNuzzo Private Wealth Inc. lifted 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 valued at $31,000 after buying an additional 797 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other 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.