Why Kraft Heinz Shares Are Falling Today

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.