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

Key Points

• Wells Fargo & Company has cut Kraft Heinz's price target from $29.00 to $27.00, maintaining an "equal weight" rating, indicating a potential upside of 3.77% from the company’s previous close.
• Other analysts, such as UBS Group and Goldman Sachs, have set target prices ranging from $27.00 to $30.00, with a consensus target price of $29.88 based on ratings from 16 analysts, most of whom rate it as "Hold."
• Kraft Heinz reported mixed earnings results with a Q2 EPS of $0.69, surpassing expectations while experiencing a 1.9% decline in revenue compared to last year.

Kraft Heinz (NASDAQ:KHC - Get Free Report) had its target price reduced by equities researchers at Wells Fargo & Company from $29.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 0.99% from the stock's previous close.

KHC has been the subject of several other reports. JPMorgan Chase & Co. started coverage on Kraft Heinz in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price objective for the company. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Morgan Stanley set a $29.00 price objective on Kraft Heinz and gave the stock an "equal weight" rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and raised their target price for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Finally, UBS Group raised their target price on Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Seventeen investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $29.76.

Kraft Heinz Trading Down 2.0%

NASDAQ:KHC traded down $0.56 during trading hours on Wednesday, hitting $26.74. 9,926,747 shares of the company were exchanged, compared to its average volume of 12,623,945. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of -5.96, a price-to-earnings-growth ratio of 3.18 and a beta of 0.23. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Kraft Heinz has a one year low of $25.44 and a one year high of $36.31. The company has a fifty day simple moving average of $27.46 and a 200 day simple moving average of $28.20.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.Kraft Heinz's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Sell-side analysts expect that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Insider Activity at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Kraft Heinz by 493.4% during the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock valued at $376,000 after buying an additional 10,272 shares during the period. D.A. Davidson & CO. grew its holdings in Kraft Heinz by 7.8% in the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company's stock worth $2,746,000 after purchasing an additional 6,551 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Kraft Heinz by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock valued at $248,665,000 after buying an additional 103,548 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock valued at $481,000 after buying an additional 3,468 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Kraft Heinz by 58.3% during the first quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock valued at $671,000 after buying an additional 8,144 shares during the last quarter. 78.17% of the stock is currently 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.