J P Morgan Chase & Co Reiterates Overweight Rating for The Kraft Heinz Company (KHC)

J P Morgan Chase & Co reiterated their overweight rating on shares of The Kraft Heinz Company (NASDAQ:KHC) in a report published on Wednesday, June 28th. J P Morgan Chase & Co currently has a $99.00 price target on the stock, down from their previous price target of $102.00.

A number of other equities research analysts have also recently issued reports on KHC. Vetr upgraded The Kraft Heinz from a hold rating to a buy rating and set a $95.36 price objective on the stock in a research note on Wednesday, March 1st. Sanford C. Bernstein reiterated an outperform rating on shares of The Kraft Heinz in a research report on Friday, March 3rd. Goldman Sachs Group, Inc. (The) upped their price target on The Kraft Heinz from $95.00 to $96.00 and gave the company a buy rating in a research report on Tuesday, April 4th. Zacks Investment Research cut shares of The Kraft Heinz from a hold rating to a sell rating in a research report on Tuesday, April 18th. Finally, Credit Suisse Group restated an outperform rating on shares of The Kraft Heinz in a research report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $97.96.

Shares of The Kraft Heinz (KHC) traded down 0.62% during mid-day trading on Wednesday, reaching $87.64. 1,902,723 shares of the company were exchanged. The firm has a 50-day moving average price of $87.15 and a 200 day moving average price of $89.85. The stock has a market capitalization of $106.71 billion, a P/E ratio of 31.19 and a beta of 0.44. The Kraft Heinz has a 12 month low of $79.69 and a 12 month high of $97.77.

The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.01. The Kraft Heinz had a net margin of 13.12% and a return on equity of 7.25%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Equities research analysts anticipate that The Kraft Heinz will post $3.24 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. boosted its position in shares of The Kraft Heinz by 240.2% in the first quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock valued at $103,000 after buying an additional 800 shares during the last quarter. Bollard Group LLC boosted its position in shares of The Kraft Heinz by 0.7% in the first quarter. Bollard Group LLC now owns 1,149 shares of the company’s stock valued at $104,000 after buying an additional 8 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in The Kraft Heinz during the first quarter worth $109,000. V Wealth Management LLC bought a new position in The Kraft Heinz during the second quarter worth $125,000. Finally, Northwest Quadrant Wealth Management LLC bought a new position in The Kraft Heinz during the fourth quarter worth $128,000. Institutional investors own 61.88% of the company’s stock.

About The Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

Analyst Recommendations for The Kraft Heinz (NASDAQ:KHC)

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