Kraft Heinz (NASDAQ:KHC) Given New $27.00 Price Target at Wells Fargo & Company

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 price target decreased by equities researchers at Wells Fargo & Company from $29.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 1.06% from the company's previous close.

KHC has been the topic of several other reports. Morgan Stanley set a $29.00 target price on Kraft Heinz and gave the stock an "equal weight" rating in a report on Wednesday. DZ Bank cut Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a report on Friday, May 9th. UBS Group boosted their target price on Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price target for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. Seventeen analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $29.76.

Kraft Heinz Price Performance

KHC traded up $0.33 during trading on Wednesday, hitting $27.29. The company's stock had a trading volume of 14,753,200 shares, compared to its average volume of 13,051,689. The business's fifty day simple moving average is $27.46 and its 200 day simple moving average is $28.21. Kraft Heinz has a twelve month low of $25.44 and a twelve month high of $36.31. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of -6.08, a P/E/G 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 (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the company earned $0.78 EPS. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, equities research analysts forecast 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 company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director directly owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On Kraft Heinz

Several large investors have recently made changes to their positions in KHC. Rossby Financial LCC acquired a new position in shares of Kraft Heinz in the first quarter valued at approximately $29,000. Rakuten Securities Inc. raised its holdings in Kraft Heinz by 172.4% in the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company's stock valued at $32,000 after acquiring an additional 788 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Kraft Heinz in the first quarter valued at approximately $33,000. Cape Investment Advisory Inc. raised its holdings in Kraft Heinz by 164.7% in the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company's stock valued at $33,000 after acquiring an additional 807 shares in the last quarter. Finally, Investment Management Corp VA ADV raised its holdings in Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after acquiring an additional 669 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.