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Adam Eckert

BIZARRE: Why kraft heinz shares are falling today | Mind Blowing Facts

Kraft Heinz KHC UBS Kraft Heinz Co Nasdaq NYSE

The Kraft Heinz Co (NASDAQ: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.

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