Kraft Heinz (NASDAQ:KHC) Given New $28.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has decreased its price target for Kraft Heinz (NASDAQ: KHC) from $29.00 to $28.00, indicating a potential upside of 10.29% from the stock's last closing price.
• Several brokerages have lowered their price targets for Kraft Heinz, with Wells Fargo setting a target of $27.00 and Deutsche Bank lowering theirs to $27.00 as well.
• Kraft Heinz's current stock consensus rating is "Reduce," with one analyst rating it as a Strong Buy, and three analysts giving it a Sell rating.

Kraft Heinz (NASDAQ:KHC - Get Free Report) had its price target decreased by investment analysts at Morgan Stanley from $29.00 to $28.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. Morgan Stanley's price objective suggests a potential upside of 10.29% from the company's previous close.

A number of other brokerages have also recently commented on KHC. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 3rd. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kraft Heinz from $28.00 to $27.00 and set a "hold" rating for the company in a research report on Monday. JPMorgan Chase & Co. started coverage on shares of Kraft Heinz in a research note on Wednesday, August 20th. They set a "neutral" rating and a $27.00 price target for the company. Finally, The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of "Reduce" and an average target price of $28.65.

Kraft Heinz Trading Up 0.8%

Kraft Heinz stock opened at $25.39 on Thursday. The business has a 50 day moving average price of $26.63 and a two-hundred day moving average price of $27.33. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. Kraft Heinz has a 12 month low of $24.80 and a 12 month high of $36.31. The stock has a market cap of $30.05 billion, a price-to-earnings ratio of -5.61, a price-to-earnings-growth ratio of 2.98 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The business had revenue of $6.39 billion for the quarter. As a group, equities analysts forecast that Kraft Heinz will post 2.68 EPS for the current year.

Insiders Place Their Bets

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,116,400. This trade represents a 38.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rossby Financial LCC acquired a new stake in shares of Kraft Heinz during the first quarter valued at about $29,000. Rakuten Securities Inc. increased 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 purchasing an additional 788 shares during the period. Wayfinding Financial LLC bought a new stake in Kraft Heinz in the first quarter valued at approximately $33,000. Cape Investment Advisory Inc. increased its position in Kraft Heinz by 164.7% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company's stock valued at $33,000 after purchasing an additional 807 shares during the period. Finally, Investment Management Corp VA ADV lifted its position in shares of Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after purchasing an additional 669 shares during the period. Institutional investors own 78.17% of the company's stock.

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.

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