Kraft Heinz (NASDAQ:KHC – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01, Briefing.com reports. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. 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 1.2 %
Shares of KHC traded up $0.44 during mid-day trading on Thursday, hitting $36.72. 11,369,615 shares of the company’s stock were exchanged, compared to its average volume of 8,157,185. The stock has a market cap of $44.64 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 3.07 and a beta of 0.65. The firm has a fifty day moving average of $36.34 and a two-hundred day moving average of $35.74. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. Kraft Heinz has a twelve month low of $30.68 and a twelve month high of $41.47.
Kraft Heinz Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.36%. Kraft Heinz’s payout ratio is 69.26%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on KHC
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.
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