The Kraft Heinz Company (NASDAQ:KHC – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their Q2 2022 earnings per share (EPS) estimates for shares of Kraft Heinz in a research note issued to investors on Tuesday, June 7th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings of $0.69 per share for the quarter, down from their previous forecast of $0.71. Jefferies Financial Group also issued estimates for Kraft Heinz’s Q4 2023 earnings at $0.73 EPS and FY2023 earnings at $2.83 EPS.
KHC has been the topic of several other research reports. Credit Suisse Group lifted their price target on shares of Kraft Heinz from $36.00 to $38.00 and gave the company an “underperform” rating in a report on Wednesday, February 23rd. TheStreet raised shares of Kraft Heinz from a “c+” rating to a “b” rating in a report on Monday, March 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kraft Heinz from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. BMO Capital Markets boosted their target price on shares of Kraft Heinz from $41.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, April 28th. Finally, UBS Group downgraded shares of Kraft Heinz from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $40.00 to $34.00 in a report on Thursday, May 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average target price of $39.38.
Shares of NASDAQ:KHC opened at $37.08 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.68. Kraft Heinz has a 1-year low of $32.78 and a 1-year high of $44.87. The company has a market capitalization of $45.38 billion, a P/E ratio of 37.45, a P/E/G ratio of 2.73 and a beta of 0.85. The firm’s 50 day simple moving average is $40.94 and its two-hundred day simple moving average is $38.10. Kraft Heinz (NASDAQ:KHC – Get Rating) last announced its earnings results on Wednesday, April 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.07. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.81 billion. Kraft Heinz had a net margin of 4.77% and a return on equity of 6.95%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, May 26th. Kraft Heinz’s payout ratio is 161.62%.
In other Kraft Heinz news, CEO Miguel Patricio sold 259,958 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $44.28, for a total transaction of $11,510,940.24. Following the transaction, the chief executive officer now owns 1,897,433 shares in the company, valued at $84,018,333.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KHC. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Kraft Heinz by 22.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock worth $21,358,000 after purchasing an additional 121,281 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Kraft Heinz by 2.1% during the 3rd quarter. Macquarie Group Ltd. now owns 60,275 shares of the company’s stock worth $2,219,000 after acquiring an additional 1,232 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Kraft Heinz by 1,064.7% during the 3rd quarter. Renaissance Technologies LLC now owns 323,800 shares of the company’s stock worth $11,922,000 after acquiring an additional 296,000 shares in the last quarter. Cinctive Capital Management LP bought a new position in Kraft Heinz during the 3rd quarter worth about $3,178,000. Finally, Voya Investment Management LLC grew its holdings in Kraft Heinz by 4.3% during the 3rd quarter. Voya Investment Management LLC now owns 447,055 shares of the company’s stock worth $16,460,000 after acquiring an additional 18,514 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.
About Kraft Heinz (Get Rating)
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.
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