Morgan Stanley Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its target price decreased by analysts at Morgan Stanley from $29.00 to $28.00 in a research report issued on Thursday, MarketBeat.com reports. Morgan Stanley’s price objective would indicate a potential upside of 9.72% from the stock’s current price.

A number of other research analysts have also issued reports on KHC. UBS Group cut their price target on shares of Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a research note on Friday, August 1st. Barclays cut their price target on shares of Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $28.65.

Kraft Heinz Trading Up 1.6%

NASDAQ:KHC opened at $25.52 on Thursday. Kraft Heinz has a 52 week low of $24.80 and a 52 week high of $36.31. The firm has a 50 day moving average of $26.54 and a 200 day moving average of $27.26. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of -5.68, a PEG ratio of 2.94 and a beta of 0.16.

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 negative net margin of 20.83% and a positive return on equity of 7.40%. The company had revenue of $6.39 billion during the quarter. As a group, sell-side analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rossby Financial LCC acquired a new stake in Kraft Heinz during the first quarter worth about $29,000. Rakuten Securities Inc. increased its position in Kraft Heinz by 172.4% during the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after purchasing an additional 788 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Kraft Heinz during the first quarter worth about $33,000. Cape Investment Advisory Inc. increased its position in Kraft Heinz by 164.7% during the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after purchasing an additional 807 shares during the last quarter. Finally, Investment Management Corp VA ADV increased its position in Kraft Heinz by 141.7% during the first 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 last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.