Why Kraft Heinz Shares Are Falling Today

The Kraft Heinz Co KHC shares are trading lower Thursday following bearish analyst coverage from UBS.

UBS analyst Cody Ross downgraded Kraft Heinz from a Neutral rating to a Sell rating and lowered the price target from $40 to $34, citing inflationary pressures.

3G Capital also announced that it distributed approximately 88 million shares of Kraft Heinz to external investors in its fund. 3G Capital is Kraft Heinz' second-largest shareholder after Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B).

See Also: Why Nutanix Stock Is Sinking Today

KHC Price Action: Kraft Heinz has traded between $32.78 and $44.87 over a 52-week period.

The stock was down 7.47% at $36.88 at time of publication.

Photo: Mike Mozart from Flickr.