The Kraft Heinz (NASDAQ:KHC) Now Covered by Analysts at Morgan Stanley

Equities research analysts at Morgan Stanley started coverage on shares of The Kraft Heinz (NASDAQ:KHC) in a note issued to investors on Tuesday, TipRanks reports. The brokerage set a “hold” rating and a $37.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 2.44% from the company’s current price.

KHC has been the topic of several other research reports. Piper Sandler cut their price target on shares of The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, August 20th. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a research note on Wednesday, June 30th. Finally, Credit Suisse Group dropped their price objective on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a research note on Thursday, August 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, The Kraft Heinz presently has an average rating of “Hold” and an average price target of $38.90.

Shares of NASDAQ KHC traded down $0.09 during mid-day trading on Tuesday, reaching $36.12. The company had a trading volume of 81,507 shares, compared to its average volume of 6,021,948. The business’s 50-day moving average is $37.46 and its 200-day moving average is $39.94. The company has a current ratio of 1.15, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The stock has a market cap of $44.19 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12. The Kraft Heinz has a 52 week low of $28.56 and a 52 week high of $44.95.

The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.55 billion. The Kraft Heinz had a net margin of 8.20% and a return on equity of 7.34%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. As a group, equities research analysts forecast that The Kraft Heinz will post 2.69 earnings per share for the current year.

In related news, insider Marcos Eloi Lima sold 41,929 shares of the company’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $36.44, for a total transaction of $1,527,892.76. Following the transaction, the insider now owns 191,620 shares of the company’s stock, valued at $6,982,632.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of KHC. Bbva USA purchased a new stake in shares of The Kraft Heinz in the second quarter valued at $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of The Kraft Heinz in the first quarter valued at $30,000. Harvest Fund Management Co. Ltd purchased a new position in The Kraft Heinz during the first quarter worth about $32,000. BDO Wealth Advisors LLC lifted its position in The Kraft Heinz by 64.1% during the first quarter. BDO Wealth Advisors LLC now owns 855 shares of the company’s stock worth $34,000 after buying an additional 334 shares during the period. Finally, PNC Managed Account Solutions Inc. purchased a new position in The Kraft Heinz during the second quarter worth about $36,000. 61.25% of the stock is currently owned by institutional investors.

About The Kraft Heinz

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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Analyst Recommendations for The Kraft Heinz (NASDAQ:KHC)

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