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

Kraft Heinz (NASDAQ:KHC) announced its quarterly earnings data on Wednesday. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01, Briefing.com reports. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. 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 Stock Performance

Shares of KHC opened at $33.49 on Friday. Kraft Heinz has a 1 year low of $31.58 and a 1 year high of $38.96. The stock has a market capitalization of $40.49 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 0.49. 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’s fifty day moving average is $35.15 and its two-hundred day moving average is $34.83.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 4.78%. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Analyst Ratings Changes

A number of equities analysts recently commented on KHC shares. Mizuho lowered their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group dropped 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. Finally, Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.15.

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.