Kraft Heinz (NASDAQ:KHC) Issues Earnings Results, Beats Estimates By $0.01 EPS

Kraft Heinz (NASDAQ:KHC) released its quarterly earnings results on Wednesday. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01, Briefing.com reports. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Kraft Heinz updated its FY 2024 guidance to 3.010-3.010 EPS and its FY24 guidance to $3.01-3.07 EPS.

Kraft Heinz Trading Up 0.1 %

NASDAQ KHC opened at $33.49 on Friday. The company’s 50-day simple moving average is $35.15 and its two-hundred day simple moving average is $34.83. Kraft Heinz has a one year low of $31.58 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06. The company has a market capitalization of $40.49 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on KHC shares. Mizuho reduced their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Citigroup reduced 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 note on Thursday. Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays reduced their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.15.

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.