Kraft Heinz (KHC) Receives a Sell from Bank of America Securities
In a report released today, Peter Galbo from Bank of America Securities maintained a Sell rating on Kraft Heinz, with a price target of $21.00.
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Galbo covers the Consumer Defensive sector, focusing on stocks such as Coca-Cola, JM Smucker, and Once Upon a Farm, PBC. According to TipRanks, Galbo has an average return of 1.2% and a 50.72% success rate on recommended stocks.
Currently, the analyst consensus on Kraft Heinz is a Hold with an average price target of $22.40.
Based on Kraft Heinz’s latest earnings release for the quarter ending March 28, the company reported a quarterly revenue of $6.05 billion and a net profit of $798 million. In comparison, last year the company earned a revenue of $6 billion and had a net profit of $712 million
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KHC in relation to earlier this year. Earlier this month, Steven Cahillane, the CEO of KHC bought 213,106.00 shares for a total of $4,999,466.76.
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