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

Kraft Heinz (NASDAQ:KHC) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.010-3.010 for the period, compared to the consensus EPS estimate of 3.020. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KHC. The Goldman Sachs Group began coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Evercore ISI lowered their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.58.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $34.80 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $42.26 billion, a PE ratio of 15.20, a PEG ratio of 3.48 and a beta of 0.49. The firm has a 50 day moving average of $35.27 and a 200-day moving average of $34.87. Kraft Heinz has a 12 month low of $31.08 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. On average, equities research analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.60%. Kraft Heinz’s payout ratio is 69.87%.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.