Kraft Heinz (NASDAQ:KHC) Downgraded by Stifel Nicolaus to “Hold”

Kraft Heinz (NASDAQ:KHC) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Friday, FinViz reports. They currently have a $38.00 target price on the stock, down from their prior target price of $40.00. Stifel Nicolaus’ price target suggests a potential upside of 8.48% from the company’s current price.

A number of other research analysts have also recently weighed in on KHC. The Goldman Sachs Group started coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. Wells Fargo & Company boosted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $37.58.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $35.03 on Friday. The firm has a market capitalization of $42.54 billion, a P/E ratio of 15.30, a P/E/G ratio of 3.39 and a beta of 0.49. Kraft Heinz has a 52 week low of $31.08 and a 52 week high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $35.27 and its two-hundred day moving average is $34.93.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The company’s revenue was down 3.3% compared to the same quarter last year. Research analysts forecast that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Clifford Capital Partners LLC lifted its position in shares of Kraft Heinz by 21.4% in the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock valued at $14,656,000 after buying an additional 80,101 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after purchasing an additional 234,783 shares during the last quarter. Smith Thornton Advisors LLC bought a new position in shares of Kraft Heinz in the 2nd quarter valued at $654,000. MBB Public Markets I LLC acquired a new stake in shares of Kraft Heinz during the 2nd quarter valued at $2,001,000. Finally, Sei Investments Co. boosted its holdings in shares of Kraft Heinz by 12.8% during the 2nd quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock valued at $24,495,000 after acquiring an additional 86,311 shares in the last quarter. 78.17% of the stock is currently owned by 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.