Kraft Heinz (KHC) was downgraded to a Sell Rating at Bernstein
In a report released today, Alexia Burland Howard from Bernstein downgraded Kraft Heinz to a Sell, with a price target of $21.00.
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Burland Howard covers the Consumer Defensive sector, focusing on stocks such as Campbell Soup, General Mills, and Kraft Heinz. According to TipRanks, Burland Howard has an average return of -9.7% and a 37.82% success rate on recommended stocks.
In a report released on May 21, Bank of America Securities also maintained a Sell rating on the stock with a $21.00 price target.
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. Last month, Steven Cahillane, the CEO of KHC bought 213,106.00 shares for a total of $4,999,466.76.
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