Kraft Heinz (NASDAQ:KHC) Releases FY24 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.01-$3.07 for the period, compared to the consensus estimate of $3.00. Kraft Heinz also updated its FY 2024 guidance to 3.010-3.070 EPS.

Kraft Heinz Price Performance

KHC stock traded up $0.66 during trading on Friday, hitting $36.06. The stock had a trading volume of 15,882,140 shares, compared to its average volume of 8,236,811. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61. Kraft Heinz has a twelve month low of $30.68 and a twelve month high of $38.96. The stock has a market capitalization of $43.60 billion, a P/E ratio of 15.75, a PEG ratio of 3.52 and a beta of 0.53. The company’s 50-day moving average price is $33.34 and its two-hundred day moving average price is $35.31.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the firm posted $0.79 EPS. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. As a group, research analysts predict that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Wall Street Analyst Weigh In

KHC has been the topic of several analyst reports. Barclays lifted their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an equal weight rating in a research report on Thursday. Citigroup reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a buy rating on the stock in a research report on Wednesday. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a research report on Thursday, June 20th. Finally, Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an overweight rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $37.58.

Insiders Place Their Bets

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

About Kraft Heinz

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.