Kraft Heinz (NASDAQ:KHC) Stock Price Target Cut by JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $24.00 to $23.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 2.81% from the stock’s current price.

Several other analysts also recently commented on the stock. Jefferies Financial Group reissued a “hold” rating and set a $21.00 price objective on shares of Kraft Heinz in a research report on Wednesday, October 14th. Piper Sandler lifted their target price on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. UBS Group reaffirmed a “neutral” rating on shares of Kraft Heinz in a report on Thursday. BNP Paribas Exane upped their target price on shares of Kraft Heinz from $17.00 to $19.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Kraft Heinz in a research note on Thursday, September 24th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $23.81.

Kraft Heinz Stock Up 2.1%

Shares of NASDAQ KHC traded up $0.49 during trading on Tuesday, reaching $23.66. The company had a trading volume of 2,967,848 shares, compared to its average volume of 15,867,492. Kraft Heinz has a 12-month low of $21.03 and a 12-month high of $28.09. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average is $24.19 and its 200 day moving average is $24.01. The stock has a market cap of $28.06 billion, a PE ratio of -8.28, a P/E/G ratio of 2.99 and a beta of 0.12.

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

Hedge Funds Weigh In On Kraft Heinz

Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Kraft Heinz by 3.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 112,595 shares of the company’s stock valued at $2,558,000 after acquiring an additional 3,719 shares during the last quarter. Jeppson Wealth Management LLC raised its holdings in shares of Kraft Heinz by 5.7% during the third quarter. Jeppson Wealth Management LLC now owns 31,479 shares of the company’s stock valued at $715,000 after purchasing an additional 1,694 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Kraft Heinz by 17.1% during the third quarter. CWA Asset Management Group LLC now owns 300,708 shares of the company’s stock valued at $6,832,000 after purchasing an additional 43,896 shares during the last quarter. Investment Research Partners LLC raised its holdings in shares of Kraft Heinz by 13.2% during the third quarter. Investment Research Partners LLC now owns 49,708 shares of the company’s stock valued at $1,129,000 after purchasing an additional 5,796 shares during the last quarter. Finally, Herold Advisors Inc. lifted its position in Kraft Heinz by 10.7% during the third quarter. Herold Advisors Inc. now owns 9,350 shares of the company’s stock valued at $212,000 after purchasing an additional 900 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 and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and desserts.

The company’s brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables, Capri Sun, Planters and Classico, among others. Products are sold through grocery stores, mass merchants, club stores, convenience retailers, e-commerce channels and foodservice distributors.

Kraft Heinz was created in 2015 through the merger of Kraft Foods Group and H.J.