In a report released yesterday, John Baumgartner from Wells Fargo maintained a Buy rating on Kraft Heinz (KHC). The company’s shares closed last Thursday at $34.39, close to its 52-week high of $35.87.
According to TipRanks.com, Baumgartner is a 4-star analyst with an average return of 6.9% and a 63.1% success rate. Baumgartner covers the Consumer Goods sector, focusing on stocks such as The Simply Good Foods Company, Campbell Soup, and General Mills.
Currently, the analyst consensus on Kraft Heinz is a Hold with an average price target of $34.64, representing a -1.2% downside. In a report issued on July 16, Deutsche Bank also upgraded the stock to Buy with a $38.00 price target.
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Based on Kraft Heinz’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.16 billion and net profit of $378 million. In comparison, last year the company earned revenue of $5.96 billion and had a net profit of $405 million.
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The Kraft Heinz Co. engages in the manufacture and market of food and beverage products. It operates through the following geographical segments: United States, Canada, EMEA, and Rest of the World. The Rest of the World segment is comprised of the Latin America and Asia Pacific segments. Its products include condiments and sauces, cheese and dairy, ambient meals, frozen and chilled meals, and for infant and nutrition. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.
