Wall Street brokerages expect Kraft Heinz Co (NASDAQ:KHC) to announce sales of $6.58 billion for the current quarter, Zacks reports. Six analysts have provided estimates for Kraft Heinz’s earnings, with the lowest sales estimate coming in at $6.47 billion and the highest estimate coming in at $6.63 billion. Kraft Heinz reported sales of $6.68 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.5%. The firm is scheduled to issue its next earnings results on Wednesday, November 7th.
On average, analysts expect that Kraft Heinz will report full-year sales of $26.21 billion for the current financial year, with estimates ranging from $25.93 billion to $26.32 billion. For the next fiscal year, analysts forecast that the business will report sales of $26.51 billion per share, with estimates ranging from $26.10 billion to $27.03 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 Friday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS.
KHC has been the topic of a number of recent research reports. Zacks Investment Research cut Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Jefferies Financial Group restated a “buy” rating and issued a $75.00 target price on shares of Kraft Heinz in a report on Tuesday, August 7th. BidaskClub downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Bank of America set a $85.00 price target on Kraft Heinz and gave the company a “buy” rating in a report on Monday, August 6th. Finally, Susquehanna Bancshares set a $58.00 price target on Kraft Heinz and gave the company a “hold” rating in a report on Tuesday, May 22nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $75.25.
Shares of NASDAQ KHC opened at $59.49 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 1.05. The firm has a market capitalization of $70.42 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.97 and a beta of 0.50. Kraft Heinz has a 52-week low of $54.11 and a 52-week high of $82.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.20%. Kraft Heinz’s payout ratio is presently 70.42%.
In other news, EVP Eduardo Pelleissone sold 35,000 shares of Kraft Heinz stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of Kraft Heinz stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of KHC. BlackRock Inc. grew its stake in shares of Kraft Heinz by 0.8% in the 1st quarter. BlackRock Inc. now owns 35,345,299 shares of the company’s stock valued at $2,201,661,000 after purchasing an additional 271,341 shares during the period. Magellan Asset Management Ltd grew its stake in shares of Kraft Heinz by 39.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock valued at $2,112,094,000 after purchasing an additional 9,529,235 shares during the period. FMR LLC grew its stake in shares of Kraft Heinz by 34.4% in the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after purchasing an additional 2,111,198 shares during the period. Federated Investors Inc. PA boosted its holdings in shares of Kraft Heinz by 39,913.8% in the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after acquiring an additional 3,398,664 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Kraft Heinz by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after acquiring an additional 93,997 shares in the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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