Kraft Heinz Faces Downgrade as Analysts Adjust Price Predictions
Fintel reports that on October 25, 2024, Stifel downgraded their outlook for Kraft Heinz (XTRA:KHNZ) from Buy to Hold.
Analyst Price Forecast Shows 12.95% Potential Gain
As of October 22, 2024, the average one-year price target for Kraft Heinz stands at 36.33 €/share. Price predictions vary, with a low of 27.96 € and a high of 54.37 €. The average target indicates a potential increase of 12.95% from the most recent closing price of 32.16 € per share.
Projected Revenue Growth and Earnings
Kraft Heinz is expected to generate an annual revenue of 27.896 million, reflecting a growth of 6.00%. The anticipated annual non-GAAP EPS (earnings per share) is projected to be 2.90.
Fund Sentiment Shows Increased Interest
Currently, there are 2,014 funds or institutions holding positions in Kraft Heinz, marking an increase of 43 owners, or 2.18%, over the last quarter. The average portfolio weight of all funds invested in KHNZ is 0.25%, which is an increase of 4.75%. Over the past three months, total institutional shares owned rose by 3.08% to 1,071,693,000 shares.
Berkshire Hathaway holds the largest stake, with 325,635,000 shares representing 26.93% ownership, remaining unchanged from the last quarter.
Bank of America currently owns 29,368,000 shares, accounting for 2.43% ownership, down from 29,938,000 shares in the previous filing, a decrease of 1.94%. The firm has cut its allocation in KHNZ by 79.92% during the last quarter.
Invesco owns 25,006,000 shares with a 2.07% ownership, slightly up from 24,409,000 shares reported earlier, indicating a growth of 2.39%. However, its allocation in KHNZ has dropped significantly by 92.24% over the same period.
Vanguards’ VTSMX fund holds 24,929,000 shares representing 2.06% ownership, unchanged from 24,850,000 shares, thus reflecting a modest increase of 0.32%. The fund decreased its allocation in KHNZ by 14.82% recently.
Invesco QQQ Trust, Series 1, has 23,387,000 shares that represent 1.93% ownership, rising from 22,739,000 shares, which is a 2.77% uptick. Yet, it reduced its stake in KHNZ by 19.16% in the last quarter.
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This story originally appeared on Fintel.
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