Kraft Heinz (NASDAQ:KHC – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.010-3.070 for the period, compared to the consensus EPS estimate of 3.010. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-$3.07 EPS.
Analyst Ratings Changes
Several brokerages recently issued reports on KHC. Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating for the company in a research note on Thursday, June 20th. Bank of America dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Citigroup dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an equal weight rating in a research note on Thursday. Finally, Evercore ISI dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an overweight rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of Hold and a consensus price target of $37.58.
View Our Latest Research Report on KHC
Kraft Heinz Stock Up 1.9 %
Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. Equities research analysts expect that Kraft Heinz will post 3.02 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is currently 69.87%.
Insiders Place Their Bets
In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.
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.
See Also
- Five stocks we like better than Kraft Heinz
- Stock Splits, Do They Really Impact Investors?
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
- ESG Stocks, What Investors Should Know
- Intel Loses a Quarter of Its Value After Horrible Earnings Report
Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.