Kraft Heinz (NASDAQ:KHC) Price Target Cut to $27.00 by Analysts at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC - Get Free Report) had its price target cut by investment analysts at Wells Fargo & Company from $30.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 0.52% from the company's current price.

KHC has been the topic of several other research reports. Cfra Research lowered shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Wall Street Zen raised Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Citigroup restated a "sell" rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $30.29.

Kraft Heinz Trading Up 2.5%

Shares of KHC stock traded up $0.67 on Wednesday, reaching $27.14. 52,405,188 shares of the stock were exchanged, compared to its average volume of 10,348,460. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. Kraft Heinz has a one year low of $25.44 and a one year high of $36.53. The stock has a market cap of $32.12 billion, a PE ratio of 12.39, a P/E/G ratio of 3.09 and a beta of 0.25. The stock has a 50 day moving average price of $26.77 and a 200 day moving average price of $28.75.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The company's revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Equities research analysts forecast that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Generali Investments Management Co LLC bought a new stake in Kraft Heinz during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Kraft Heinz during the 4th quarter valued at about $29,000. Rossby Financial LCC acquired a new stake in Kraft Heinz during the first quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in Kraft Heinz in the first quarter worth approximately $33,000. Finally, Investment Management Corp VA ADV lifted its stake 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 buying an additional 669 shares during the period. 78.17% of the stock is 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.