Kraft Heinz (NASDAQ:KHC) Price Target Increased to $41.00 by Analysts at Morgan Stanley
Morgan Stanley lifted their price objective on Kraft Heinz from $38.00 to $41.00 in a research note on Tuesday.
Kraft Heinz (NASDAQ:KHC - Get Rating) had its price objective hoisted by investment analysts at Morgan Stanley from $38.00 to $41.00 in a research note issued to investors on Tuesday, The Fly reports. Morgan Stanley's price objective indicates a potential upside of 2.22% from the company's previous close.
KHC has been the topic of a number of other research reports. UBS Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and set a $34.00 price objective on the stock in a report on Thursday, September 29th. BNP Paribas initiated coverage on Kraft Heinz in a report on Tuesday, November 15th. They set a "neutral" rating and a $39.00 price objective on the stock. Piper Sandler reduced their target price on Kraft Heinz to $41.00 in a report on Wednesday, October 5th. TheStreet upgraded shares of Kraft Heinz from a "c+" rating to a "b-" rating in a report on Wednesday, November 2nd. Finally, The Goldman Sachs Group raised shares of Kraft Heinz from a "neutral" rating to a "buy" rating and set a $43.00 price objective on the stock in a report on Sunday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $41.91.
Kraft Heinz Stock Performance
NASDAQ KHC opened at $40.11 on Tuesday. The business's 50-day moving average price is $38.09 and its 200 day moving average price is $37.33. The company has a quick ratio of 0.50, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market cap of $49.13 billion, a P/E ratio of 40.93, a P/E/G ratio of 2.96 and a beta of 0.77. Kraft Heinz has a 52-week low of $32.73 and a 52-week high of $44.87.
Kraft Heinz (NASDAQ:KHC - Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Kraft Heinz had a net margin of 4.71% and a return on equity of 6.84%. The company had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $6.30 billion. On average, equities research analysts expect that Kraft Heinz will post 2.7 earnings per share for the current year.
Hedge Funds Weigh In On Kraft Heinz
A number of institutional investors have recently made changes to their positions in KHC. Fairfield Bush & CO. purchased a new stake in shares of Kraft Heinz during the first quarter worth about $65,000. Van ECK Associates Corp raised its holdings in Kraft Heinz by 44.4% in the 1st quarter. Van ECK Associates Corp now owns 23,181 shares of the company's stock valued at $913,000 after acquiring an additional 7,131 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Kraft Heinz by 27.8% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 52,164 shares of the company's stock worth $2,055,000 after purchasing an additional 11,340 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth $227,000. Finally, TD Asset Management Inc. grew its position in shares of Kraft Heinz by 1.0% in the first quarter. TD Asset Management Inc. now owns 292,835 shares of the company's stock valued at $11,535,000 after purchasing an additional 2,806 shares during the period. 67.03% 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 the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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