BidaskClub Upgrades Kraft Heinz (KHC) to Buy

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Kraft Heinz (NASDAQ:KHC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also commented on KHC. Argus restated a “buy” rating and issued a $74.00 price objective (down from $93.00) on shares of Kraft Heinz in a research note on Wednesday, March 7th. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Societe Generale started coverage on Kraft Heinz in a research note on Thursday, March 15th. They issued a “sell” rating for the company. Barclays reduced their price objective on Kraft Heinz from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, March 29th. Finally, ValuEngine lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $77.85.

NASDAQ:KHC opened at $62.65 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.72 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $77.06 billion, a PE ratio of 17.65, a P/E/G ratio of 2.00 and a beta of 0.60. Kraft Heinz has a one year low of $54.11 and a one year high of $90.38.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. The firm had revenue of $6.30 billion during the quarter, compared to analyst estimates of $6.32 billion. Kraft Heinz had a return on equity of 7.06% and a net margin of 42.41%. Kraft Heinz’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. sell-side analysts expect that Kraft Heinz will post 3.79 EPS for the current fiscal year.

In other Kraft Heinz news, Director Mackey J. Mcdonald purchased 669 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was acquired at an average price of $60.27 per share, for a total transaction of $40,320.63. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $1,053,881.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 26.81% of the company’s stock.

Several institutional investors have recently modified their holdings of KHC. Arrowstreet Capital Limited Partnership grew its position in shares of Kraft Heinz by 1,786.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 107,546 shares of the company’s stock valued at $8,363,000 after purchasing an additional 101,846 shares in the last quarter. Eaton Vance Management grew its position in shares of Kraft Heinz by 1.4% during the fourth quarter. Eaton Vance Management now owns 139,325 shares of the company’s stock valued at $10,834,000 after purchasing an additional 1,922 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Kraft Heinz by 6.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 49,645 shares of the company’s stock valued at $3,860,000 after purchasing an additional 3,095 shares in the last quarter. Buckingham Asset Management LLC grew its position in shares of Kraft Heinz by 27.5% during the fourth quarter. Buckingham Asset Management LLC now owns 4,139 shares of the company’s stock valued at $322,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Kraft Heinz by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 570,817 shares of the company’s stock valued at $44,387,000 after purchasing an additional 167,133 shares in the last quarter. Hedge funds and other institutional investors own 62.30% of the company’s stock.

Kraft Heinz Company Profile

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.

Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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