Kraft Heinz (NASDAQ:KHC) Stock Rating Upgraded by Zacks Research

Kraft Heinz (NASDAQ:KHC) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms also recently weighed in on KHC. Sanford C. Bernstein reduced their price objective on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, October 28th. Piper Sandler upped their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. UBS Group cut their target price on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Finally, Evercore ISI lowered their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Kraft Heinz currently has an average rating of “Reduce” and an average target price of $26.63.

Kraft Heinz Stock Performance

KHC opened at $24.39 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $24.64 and its 200-day moving average is $25.98. The stock has a market cap of $28.87 billion, a PE ratio of -6.54 and a beta of 0.09. Kraft Heinz has a twelve month low of $23.60 and a twelve month high of $33.35.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The firm had revenue of $6.39 billion for the quarter. On average, analysts predict that Kraft Heinz will post 2.68 earnings per share for the current year.

Insider Activity at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the transaction, the insider owned 686,817 shares in the company, valued at $17,046,797.94. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. STF Management LP increased its position in Kraft Heinz by 2.1% during the second quarter. STF Management LP now owns 18,475 shares of the company’s stock worth $477,000 after buying an additional 374 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Kraft Heinz by 15.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company’s stock worth $84,000 after acquiring an additional 431 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Kraft Heinz by 13.4% during the third quarter. Hantz Financial Services Inc. now owns 3,894 shares of the company’s stock valued at $101,000 after acquiring an additional 460 shares during the period. Barrett & Company Inc. grew its position in shares of Kraft Heinz by 22.7% in the third quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after purchasing an additional 500 shares during the last quarter. Finally, Bill Few Associates Inc. boosted its stake in Kraft Heinz by 0.6% during the 2nd quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock valued at $2,273,000 after purchasing an additional 516 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.