Kraft Foods Group Reaches New 12-Month High at $60.72 (KRFT)
Kraft Foods Group (NASDAQ:KRFT) hit a new 52-week high during mid-day trading on Thursday , American Banking News reports. The stock traded as high as $60.72 and last traded at $60.57, with a volume of 721,936 shares changing hands. The stock had previously closed at $60.43.
A number of analysts have recently weighed in on KRFT shares. Analysts at Zacks reiterated a “neutral” rating on shares of Kraft Foods Group in a research note on Friday, June 27th. They now have a $62.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Kraft Foods Group from $61.00 to $65.00 in a research note on Friday, June 6th. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Kraft Foods Group in a research note on Monday, June 2nd. They now have a $62.00 price target on the stock, up previously from $60.00. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.25.
The stock’s 50-day moving average is $59.01 and its 200-day moving average is $55.9. The company has a market cap of $36.093 billion and a price-to-earnings ratio of 13.14.
Kraft Foods Group (NASDAQ:KRFT) last announced its earnings results on Thursday, May 1st. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect that Kraft Foods Group will post $3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, July 9th.
Kraft Foods Group, Inc (NASDAQ:KRFT) operates food and beverage businesses in North America.
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