Kraft Heinz (NASDAQ:KHC) Updates FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.010-3.070 for the period, compared to the consensus earnings per share estimate of 3.040. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a report on Thursday, April 18th. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a research note on Thursday, February 15th. Bank of America boosted their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a research note on Monday, April 15th. Finally, Citigroup assumed coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a buy rating and a $43.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $40.00.

Kraft Heinz Trading Down 1.0 %

Shares of Kraft Heinz stock traded down $0.37 on Friday, reaching $36.35. The company had a trading volume of 7,102,855 shares, compared to its average volume of 7,314,267. The firm’s 50 day moving average price is $36.35 and its two-hundred day moving average price is $35.75. The firm has a market cap of $44.14 billion, a PE ratio of 15.87, a PEG ratio of 2.92 and a beta of 0.65. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $41.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.54 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts predict that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is currently 69.87%.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.