Fintel reports that on May 22, 2024, Piper Sandler upgraded their outlook for Kraft Heinz (NasdaqGS:KHC) from Neutral to Overweight.
Analyst Price Forecast Suggests 11.94% Upside
As of May 8, 2024, the average one-year price target for Kraft Heinz is 40.21. The forecasts range from a low of 32.32 to a high of $48.30. The average price target represents an increase of 11.94% from its latest reported closing price of 35.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kraft Heinz is 26,974MM, an increase of 1.55%. The projected annual non-GAAP EPS is 2.95.
What is the Fund Sentiment?
There are 1,959 funds or institutions reporting positions in Kraft Heinz. This is an decrease of 23 owner(s) or 1.16% in the last quarter. Average portfolio weight of all funds dedicated to KHC is 0.26%, an increase of 0.31%. Total shares owned by institutions decreased in the last three months by 0.55% to 1,048,897K shares. 
The put/call ratio of KHC is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 325,635K shares representing 26.82% ownership of the company. No change in the last quarter.
Bank Of America holds 29,938K shares representing 2.47% ownership of the company. In its prior filing, the firm reported owning 25,056K shares , representing an increase of 16.31%. The firm decreased its portfolio allocation in KHC by 71.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 25,010K shares representing 2.06% ownership of the company. In its prior filing, the firm reported owning 24,856K shares , representing an increase of 0.61%. The firm decreased its portfolio allocation in KHC by 1.16% over the last quarter.
Invesco holds 24,409K shares representing 2.01% ownership of the company. In its prior filing, the firm reported owning 24,241K shares , representing an increase of 0.69%. The firm decreased its portfolio allocation in KHC by 91.70% over the last quarter.
Invesco Qqq Trust, Series 1 holds 22,433K shares representing 1.85% ownership of the company. In its prior filing, the firm reported owning 21,000K shares , representing an increase of 6.39%. The firm increased its portfolio allocation in KHC by 0.70% over the last quarter.
Kraft Heinz Background Information
(This description is provided by the company.)
The Kraft Heinz Company is driving transformation, inspired by its Purpose, Let's Make Life Delicious. Consumers are at the center of everything the company does. With 2020 net sales of approximately $26 billion, Kraft Heinz is committed to growing its iconic and emerging food and beverage brands on a global scale. The company leverages its scale and agility to unleash the full power of Kraft Heinz across a portfolio of six consumer-driven product platforms. As global citizens, the company is dedicated to making a sustainable, ethical impact while helping feed the world in healthy, responsible ways.
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This story originally appeared on Fintel.
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