Kraft Heinz Co (KHC) was Upgraded by Deutsche Bank to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 103 from a previous price target of $85 . Earlier the firm had a rating of “Hold ” on the company shares. Deutsche Bank advised their investors in a research report released on Aug 5, 2016.
On the company’s financial health, Kraft Heinz Co reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.71. The company had revenue of $6793.00 million for the quarter, compared to analysts expectations of $6790.09 million. The company’s revenue was up 159.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.
Kraft Heinz Co opened for trading at $85.13 and hit $85.64 on the upside on Thursday, eventually ending the session at $85.54, with a gain of 0.75% or 0.64 points. The heightened volatility saw the trading volume jump to 32,21,770 shares. Company has a market cap of $104,013 M.
In a different news, on Nov 20, 2015, Jeanne P Jackson (director) purchased 4,330 shares at $75.40 per share price.
The Kraft Heinz Company formerly H.J. Heinz Holding Corporation is a food and beverage company. The Company provides taste and nutrition foods for all eating occasions. The Company’s brands include Kraft Heinz ABC Capri Sun Classico Jell-O Kool-Aid Lunchables Maxwell House Ore-Ida Oscar Mayer Philadelphia Planters Plasmon Quero Weight Watchers Smart Ones and Velveeta.