Kraft Heinz (NASDAQ:KHC) Earns Outperform Rating from Royal Bank Of Canada

Kraft Heinz (NASDAQ:KHC)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a report issued on Thursday, Benzinga reports. They currently have a $32.00 price target on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 35.39% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group lifted their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Sanford C. Bernstein cut shares of Kraft Heinz from a “market perform” rating to an “underperform” rating and cut their price target for the company from $25.00 to $21.00 in a report on Wednesday, June 3rd. TD Cowen reiterated a “hold” rating and issued a $22.00 price target on shares of Kraft Heinz in a report on Tuesday. Piper Sandler lifted their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings cut shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $23.88.

Kraft Heinz Trading Down 0.9%

Shares of Kraft Heinz stock traded down $0.23 on Thursday, hitting $23.64. The stock had a trading volume of 10,453,484 shares, compared to its average volume of 16,032,553. The stock’s 50-day simple moving average is $25.26 and its two-hundred day simple moving average is $23.96. Kraft Heinz has a one year low of $21.03 and a one year high of $28.09. The stock has a market cap of $28.03 billion, a price-to-earnings ratio of -8.26, a PEG ratio of 2.99 and a beta of 0.09. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. As a group, sell-side analysts predict that Kraft Heinz will post 2.06 EPS for the current year.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Kraft Heinz during the second quarter valued at $1,803,911,000. Norges Bank purchased a new position in Kraft Heinz during the fourth quarter valued at $332,382,000. Barclays PLC lifted its position in Kraft Heinz by 77.8% during the fourth quarter. Barclays PLC now owns 8,973,146 shares of the company’s stock valued at $217,599,000 after buying an additional 3,926,141 shares during the period. Bank of New York Mellon Corp lifted its position in Kraft Heinz by 15.3% during the fourth quarter. Bank of New York Mellon Corp now owns 8,802,220 shares of the company’s stock valued at $213,454,000 after buying an additional 1,167,964 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Kraft Heinz by 7.3% during the first quarter. Pacer Advisors Inc. now owns 9,270,503 shares of the company’s stock valued at $208,494,000 after buying an additional 633,645 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers, foodservice operators and other customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, beverages, snacks and other packaged foods.

The company’s well-known brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Capri Sun, Jell-O, Maxwell House and Classico, among others.