Kraft Heinz (NASDAQ:KHC - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.01-3.07 for the period, compared to the consensus earnings per share estimate of $3.02. Kraft Heinz also updated its FY 2024 guidance to 3.010-3.010 EPS.
Kraft Heinz Stock Down 3.7 %
Shares of Kraft Heinz stock traded down $1.30 during trading hours on Wednesday, reaching $33.50. 1,842,878 shares of the company were exchanged, compared to its average volume of 7,715,272. The firm has a market cap of $40.68 billion, a PE ratio of 15.20, 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. Kraft Heinz has a 1 year low of $31.08 and a 1 year high of $38.96. The stock's fifty day moving average is $35.27 and its 200 day moving average is $34.87.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, equities research analysts forecast that Kraft Heinz will post 3.01 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, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.78%. Kraft Heinz's dividend payout ratio is presently 69.87%.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Bank of America decreased their target price 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 10th. Wells Fargo & Company upped their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus downgraded Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Kraft Heinz from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $37.58.
Check Out Our Latest Stock Analysis on Kraft Heinz
Insiders Place Their Bets
In related news, insider Cory Onell sold 4,076 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company's stock, valued at approximately $5,182,920. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company's stock.
Kraft Heinz Company Profile
(
Get Free Report)
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
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