Too Bad - Kraft Heinz (NASDAQ:KHC) Given a $26.00 Price Target at Piper Jaffray Companies
Posted by Elaine Iseri on Sep 14th, 2019
Kraft Heinz (NASDAQ:KHC) received a $26.00 target price from Piper Jaffray Companies in a report issued on Wednesday, September 4th, TipRanks reports. The brokerage currently has a “hold” rating on the stock. Piper Jaffray Companies’ price target points to a potential downside of 11.11% from the company’s previous close. Piper Jaffray Companies also issued estimates for Kraft Heinz’s Q3 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.63 EPS, FY2019 earnings at $2.59 EPS, Q2 2020 earnings at $0.68 EPS, Q3 2020 earnings at $0.58 EPS, Q4 2020 earnings at $0.65 EPS and FY2020 earnings at $2.48 EPS.
Several other analysts have also issued reports on KHC. Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the company a “sell” rating in a research report on Monday, August 26th. Barclays set a $30.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research report on Friday, August 9th. BMO Capital Markets dropped their price target on shares of Kraft Heinz from $40.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, August 12th. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a report on Tuesday, September 3rd. Finally, Credit Suisse Group set a $26.00 target price on shares of Kraft Heinz and gave the stock a “sell” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. Kraft Heinz has an average rating of “Hold” and a consensus target price of $36.05.
Shares of NASDAQ KHC opened at $29.25 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.18 and a quick ratio of 0.78. The stock has a market cap of $35.72 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 2.45 and a beta of 0.77. Kraft Heinz has a 1 year low of $24.86 and a 1 year high of $59.36. The firm has a 50-day moving average of $27.76 and a 200 day moving average of $30.70.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. Research analysts expect that Kraft Heinz will post 2.65 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new stake in Kraft Heinz in the 1st quarter valued at $27,000. Putnam FL Investment Management Co. purchased a new position in Kraft Heinz in the 2nd quarter valued at $27,000. Zions Bancorporation N.A. lifted its holdings in Kraft Heinz by 303.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock valued at $30,000 after purchasing an additional 722 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Kraft Heinz during the 2nd quarter worth $31,000. Finally, Horrell Capital Management Inc. purchased a new position in shares of Kraft Heinz during the 2nd quarter worth $31,000. 56.61% of the stock is currently owned by institutional investors and hedge funds.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
