Kraft Heinz falls after Citi downgrades to 'sell' ahead of Q1 results

Packaged food maker Kraft Heinz's KHC.O shares down 1.9% at $30.24 premarket

Brokerage Citigroup downgrades rating on KHC to "sell" from "neutral" ahead of Q1 results

Citi also cuts PT to $27 from $28 as brokerage sees risk to organic sales growth

The new target price represents 12.3% downside to the stock's last close

"Other channels and geographies like food-away-from-home and Canada could face sales pressure, which could affect Q1 earnings" - Citi

Citi also see headwinds from worsening food service trends

Five of 24 brokerages rate the stock "buy" or higher, 16 "hold" and 3 "sell" or lower; their median PT is $31.76, according to data compiled by LSEG

As of last close, stock has risen 0.3% YTD