The Kraft Heinz Company (KHC) Price Target Cut to $82.00

The Kraft Heinz Company (NASDAQ:KHC) had its target price dropped by equities researchers at Citigroup Inc. from $90.00 to $82.00 in a research note issued to investors on Thursday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 6.04% from the stock’s current price.

A number of other research firms have also recently issued reports on KHC. Credit Suisse Group set a $100.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, July 29th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of The Kraft Heinz in a report on Tuesday, August 1st. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Piper Jaffray Companies set a $92.00 price target on shares of The Kraft Heinz and gave the stock a “hold” rating in a report on Wednesday, August 16th. Finally, Berenberg Bank set a $102.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $94.62.

The Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Chip Partners Inc. increased its holdings in The Kraft Heinz by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock valued at $127,000 after buying an additional 8 shares in the last quarter. Martingale Asset Management L P increased its holdings in The Kraft Heinz by 0.5% in the second quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock valued at $234,000 after buying an additional 13 shares in the last quarter. Guardian Life Insurance Co. of America increased its holdings in The Kraft Heinz by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock valued at $209,000 after buying an additional 16 shares in the last quarter. Ropes Wealth Advisors LLC increased its holdings in The Kraft Heinz by 0.4% in the second quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock valued at $329,000 after buying an additional 17 shares in the last quarter. Finally, National Asset Management Inc. increased its holdings in The Kraft Heinz by 0.5% in the first quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock valued at $408,000 after buying an additional 21 shares in the last quarter. 61.79% of the stock is owned by institutional investors.

The Kraft Heinz Company Profile

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

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