Kraft Heinz (NASDAQ:KHC – Get Free Report) issued its earnings results on Wednesday. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05, Briefing.com reports. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. Kraft Heinz updated its FY24 guidance to $3.01-$3.07 EPS and its FY 2024 guidance to 3.010-3.070 EPS.
Kraft Heinz Stock Up 1.9 %
Kraft Heinz stock traded up $0.66 during mid-day trading on Friday, reaching $36.06. 15,882,140 shares of the company were exchanged, compared to its average volume of 8,236,811. The business has a fifty day moving average of $33.34 and a 200 day moving average of $35.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. The firm has a market cap of $43.60 billion, a P/E ratio of 15.75, a PEG ratio of 3.52 and a beta of 0.53. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $38.96.
Kraft Heinz Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. Kraft Heinz’s dividend payout ratio is currently 69.87%.
Analyst Ratings Changes
Read Our Latest Stock Analysis on Kraft Heinz
Insider Transactions at Kraft Heinz
In other news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction on Monday, May 6th. The stock was 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 $5,689,662.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.
About Kraft Heinz
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.
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