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

Kraft Heinz (NASDAQ:KHC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.010-3.010 for the period, compared to the consensus earnings per share estimate of 3.020. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $1.07 during mid-day trading on Wednesday, hitting $33.73. The stock had a trading volume of 14,143,822 shares, compared to its average volume of 7,773,836. The firm has a market cap of $40.96 billion, a PE ratio of 14.73, a PEG ratio of 3.48 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The company has a 50 day moving average of $35.24 and a two-hundred day moving average of $34.86. Kraft Heinz has a twelve month low of $31.08 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion during 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%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. Research analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 4.74%. Kraft Heinz’s payout ratio is currently 69.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KHC shares. Citigroup cut their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Bank of America lowered their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.58.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by company insiders.

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.