Analysts Set Expectations for Kraft Heinz FY2024 Earnings

The Kraft Heinz Company (NASDAQ:KHC - Free Report) - Zacks Research lowered their FY2024 earnings estimates for Kraft Heinz in a note issued to investors on Wednesday, November 13th. Zacks Research analyst V. Bagree now forecasts that the company will post earnings per share of $3.01 for the year, down from their prior estimate of $3.02. The consensus estimate for Kraft Heinz's current full-year earnings is $3.01 per share. Zacks Research also issued estimates for Kraft Heinz's Q4 2024 earnings at $0.79 EPS, Q1 2025 earnings at $0.70 EPS, Q4 2025 earnings at $0.79 EPS, FY2025 earnings at $3.03 EPS, Q1 2026 earnings at $0.72 EPS, Q2 2026 earnings at $0.82 EPS, Q3 2026 earnings at $0.80 EPS and FY2026 earnings at $3.18 EPS.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. Citigroup decreased their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Evercore ISI decreased their target price 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, July 31st. The Goldman Sachs Group decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $37.00.

Kraft Heinz Stock Performance

NASDAQ:KHC traded down $0.65 during midday trading on Friday, reaching $31.14. The stock had a trading volume of 17,402,126 shares, compared to its average volume of 7,865,633. The firm has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $34.52. Kraft Heinz has a 12-month low of $30.40 and a 12-month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market cap of $37.65 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.67 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period last year, the firm posted $0.72 earnings per share. The company's revenue for the quarter was down 2.8% compared to the same quarter last year.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz in the 1st quarter valued at approximately $27,000. Fortitude Family Office LLC raised its position in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. raised its position in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Kraft Heinz during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company's stock.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's payout ratio is currently 144.14%.

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.