Kraft Heinz (NASDAQ:KHC) Issues FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.010-3.070 for the period, compared to the consensus earnings per share estimate of 3.040. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Analysts Set New Price Targets

KHC has been the topic of several recent research reports. Citigroup began coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They issued a buy rating and a $43.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a research note on Thursday, April 18th. Finally, Bank of America lifted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $40.00.

Kraft Heinz Stock Down 1.0 %

NASDAQ KHC traded down $0.37 during trading on Friday, hitting $36.35. The stock had a trading volume of 7,102,855 shares, compared to its average volume of 7,314,267. The company has a market capitalization of $44.14 billion, a PE ratio of 15.87, a P/E/G ratio of 2.92 and a beta of 0.65. Kraft Heinz has a 12 month low of $30.68 and a 12 month high of $41.44. The company’s 50-day moving average price is $36.35 and its two-hundred day moving average price is $35.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.54 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

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.