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UBS Group Issues Positive Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz logo with Consumer Staples background
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Key Points

  • UBS raised its Kraft Heinz price target from $24 to $26 but maintained a neutral rating; the new target implies 2.54% upside from the prior close.
  • Analyst sentiment is cautious overall: MarketBeat’s consensus rating is “Reduce,” with an average price target of $23.80.
  • Kraft Heinz beat quarterly earnings and revenue estimates, but revenue declined 2% year over year. Inflation and a slow U.S. retail recovery remain challenges for sales and margins.
  • Five stocks to consider instead of Kraft Heinz.

Kraft Heinz (NASDAQ:KHC - Get Free Report) had its price objective raised by investment analysts at UBS Group from $24.00 to $26.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential upside of 2.54% from the company's previous close.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Kraft Heinz from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Wells Fargo & Company increased their price target on shares of Kraft Heinz from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $24.00 to $23.00 and set an "underweight" rating for the company in a research note on Tuesday, October 20th. Jefferies Financial Group reissued a "hold" rating and issued a $24.00 target price on shares of Kraft Heinz in a research note on Wednesday. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $32.00 target price on shares of Kraft Heinz in a report on Thursday, September 24th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $23.80.

View Our Latest Report on KHC

Kraft Heinz Stock Performance

KHC traded down $0.09 during trading on Thursday, reaching $25.36. The company's stock had a trading volume of 18,926,428 shares, compared to its average volume of 15,778,868. Kraft Heinz has a 52-week low of $21.03 and a 52-week high of $28.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. The company's fifty day moving average price is $24.02 and its 200-day moving average price is $23.91. The company has a market capitalization of $30.07 billion, a price-to-earnings ratio of -8.87, a price-to-earnings-growth ratio of 2.99 and a beta of 0.12.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The business had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.09 billion. During the same period in the prior year, the company posted $0.61 EPS. The business's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Kraft Heinz will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Kraft Heinz

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new position in Kraft Heinz during the 2nd quarter valued at approximately $1,968,000. Gradient Investments LLC raised its position in shares of Kraft Heinz by 11.8% during the 3rd quarter. Gradient Investments LLC now owns 667,877 shares of the company's stock worth $15,174,000 after buying an additional 70,534 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Kraft Heinz in the second quarter worth approximately $1,076,000. The Manufacturers Life Insurance Company boosted its stake in Kraft Heinz by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 561,627 shares of the company's stock valued at $13,266,000 after buying an additional 57,092 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its position in shares of Kraft Heinz by 70.2% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 994,375 shares of the company's stock valued at $23,487,000 after purchasing an additional 410,029 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Kraft Heinz

Here are the key news stories impacting Kraft Heinz this week:

About Kraft Heinz

(Get Free Report)

The Kraft Heinz Company NASDAQ: KHC is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and desserts.

The company's brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables, Capri Sun, Planters and Classico, among others. Products are sold through grocery stores, mass merchants, club stores, convenience retailers, e-commerce channels and foodservice distributors.

Kraft Heinz was created in 2015 through the merger of Kraft Foods Group and H.J.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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