Kraft Heinz (KHC) Lowered to “Neutral” at UBS Group

Kraft Heinz (NASDAQ:KHC) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a report released on Friday, The Fly reports.

A number of other equities research analysts have also recently issued reports on KHC. Piper Jaffray Companies set a $62.00 price objective on Kraft Heinz and gave the stock a “buy” rating in a report on Friday, November 2nd. Susquehanna Bancshares restated a “negative” rating and set a $47.00 price objective (down previously from $59.00) on shares of Kraft Heinz in a report on Friday, November 2nd. Royal Bank of Canada reduced their price objective on Kraft Heinz to $68.00 and set an “outperform” rating for the company in a report on Friday, November 2nd. Bank of America set a $83.00 price objective on Kraft Heinz and gave the stock a “buy” rating in a report on Friday, November 2nd. Finally, ValuEngine cut Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Friday, November 2nd. Six analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $63.15.

Shares of NASDAQ:KHC opened at $48.18 on Friday. Kraft Heinz has a 12-month low of $41.60 and a 12-month high of $70.01. The company has a market cap of $58.85 billion, a PE ratio of 13.57, a PEG ratio of 2.36 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.57.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.10). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that Kraft Heinz will post 3.61 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Cerebellum GP LLC boosted its stake in shares of Kraft Heinz by 83.3% in the fourth quarter. Cerebellum GP LLC now owns 5,821 shares of the company’s stock valued at $251,000 after buying an additional 2,646 shares during the period. Vanguard Group Inc. lifted its stake in Kraft Heinz by 2.5% during the third quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after purchasing an additional 1,123,288 shares during the last quarter. Legal & General Group Plc lifted its stake in Kraft Heinz by 6.0% during the third quarter. Legal & General Group Plc now owns 3,065,442 shares of the company’s stock worth $168,904,000 after purchasing an additional 174,254 shares during the last quarter. B. Riley Wealth Management Inc. bought a new stake in Kraft Heinz during the third quarter worth $384,000. Finally, Wells Fargo & Company MN lifted its stake in Kraft Heinz by 5.6% during the third quarter. Wells Fargo & Company MN now owns 2,653,238 shares of the company’s stock worth $146,220,000 after purchasing an additional 141,717 shares during the last quarter. Institutional investors and hedge funds own 62.30% of the company’s stock.

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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