Heinz (KHC) Receives “Buy” Rating from Royal Bank of Canada

Heinz (NASDAQ:KHC)‘s stock had its “buy” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Tuesday. They currently have a $77.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 33.50% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of Heinz from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Societe Generale assumed coverage on shares of Heinz in a report on Thursday, March 15th. They issued a “sell” rating on the stock. Barclays decreased their price objective on shares of Heinz from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, March 29th. Zacks Investment Research upgraded shares of Heinz from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $77.00 price objective (down from $92.00) on shares of Heinz in a report on Tuesday, February 20th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $82.67.

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NASDAQ KHC opened at $57.68 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.44 and a current ratio of 0.72. Heinz has a 1 year low of $57.41 and a 1 year high of $93.88. The firm has a market cap of $70,962.96, a price-to-earnings ratio of 16.25, a PEG ratio of 1.59 and a beta of 0.59.

Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, February 16th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.06). Heinz had a return on equity of 7.20% and a net margin of 41.93%. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same period last year, the company posted $0.08 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. equities research analysts anticipate that Heinz will post 3.82 EPS for the current year.

A number of institutional investors have recently made changes to their positions in KHC. American International Group Inc. lifted its holdings in shares of Heinz by 1,928.1% in the fourth quarter. American International Group Inc. now owns 6,110,926 shares of the company’s stock worth $475,186,000 after acquiring an additional 5,809,615 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Heinz by 30.4% in the fourth quarter. Magellan Asset Management Ltd now owns 21,429,032 shares of the company’s stock worth $1,666,322,000 after acquiring an additional 4,998,778 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Heinz by 4.6% in the fourth quarter. BlackRock Inc. now owns 35,073,958 shares of the company’s stock worth $2,727,351,000 after acquiring an additional 1,551,823 shares during the last quarter. Virtus Fund Advisers LLC lifted its holdings in shares of Heinz by 1,123.1% in the fourth quarter. Virtus Fund Advisers LLC now owns 865,149 shares of the company’s stock worth $67,274,000 after acquiring an additional 794,415 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Heinz by 25.1% in the fourth quarter. Teachers Advisors LLC now owns 3,256,025 shares of the company’s stock worth $253,189,000 after acquiring an additional 654,199 shares during the last quarter. Hedge funds and other institutional investors own 63.17% of the company’s stock.

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Heinz Company Profile

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 Heinz (NASDAQ:KHC)

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