Zacks: Brokerages Expect Kraft Heinz Co (KHC) Will Post Quarterly Sales of $6.90 Billion

Wall Street brokerages predict that Kraft Heinz Co (NASDAQ:KHC) will announce $6.90 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Kraft Heinz’s earnings. The highest sales estimate is $6.98 billion and the lowest is $6.82 billion. Kraft Heinz posted sales of $6.86 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.6%. The firm is scheduled to report its next earnings report before the market opens on Friday, February 16th.

According to Zacks, analysts expect that Kraft Heinz will report full-year sales of $6.90 billion for the current fiscal year, with estimates ranging from $26.18 billion to $26.33 billion. For the next year, analysts anticipate that the firm will report sales of $26.79 billion per share, with estimates ranging from $26.50 billion to $27.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Kraft Heinz.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 EPS.

Several brokerages have issued reports on KHC. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley dropped their target price on Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Citigroup dropped their target price on Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, Susquehanna Bancshares dropped their target price on Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Kraft Heinz presently has a consensus rating of “Buy” and an average price target of $92.90.

A number of institutional investors and hedge funds have recently bought and sold shares of KHC. FMR LLC lifted its stake in Kraft Heinz by 30.0% during the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after acquiring an additional 2,659,846 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Kraft Heinz during the 2nd quarter worth about $102,151,000. Principal Financial Group Inc. lifted its stake in Kraft Heinz by 128.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,932,498 shares of the company’s stock worth $165,499,000 after acquiring an additional 1,086,062 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Kraft Heinz by 49.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,658,122 shares of the company’s stock worth $227,642,000 after acquiring an additional 878,768 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Kraft Heinz by 509.2% during the 2nd quarter. Janus Henderson Group PLC now owns 876,433 shares of the company’s stock worth $75,053,000 after acquiring an additional 732,575 shares in the last quarter. 61.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kraft Heinz (KHC) opened at $77.19 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $95,735.03, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.11 and a beta of 0.43. Kraft Heinz has a twelve month low of $75.21 and a twelve month high of $97.77.

COPYRIGHT VIOLATION NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.americanbankingnews.com/2018/02/03/zacks-brokerages-expect-kraft-heinz-co-khc-will-post-quarterly-sales-of-6-90-billion.html.

About Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

Get a free copy of the Zacks research report on Kraft Heinz (KHC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kraft Heinz (NASDAQ:KHC)

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply