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

Kraft Heinz (NASDAQ:KHC) updated its FY 2024 earnings guidance on Wednesday. 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

A number of brokerages have issued reports on KHC. Wells Fargo & Company decreased their price target on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating on the stock in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a research note on Thursday, April 18th. Bank of America upped their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a report on Monday, April 15th. Finally, Citigroup initiated coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a buy rating and a $43.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of Hold and an average price target of $40.00.

Kraft Heinz Trading Down 1.0 %

NASDAQ KHC traded down $0.37 on Friday, hitting $36.35. 7,102,855 shares of the stock were exchanged, compared to its average volume of 7,314,267. 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 market capitalization of $44.14 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.92 and a beta of 0.65. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $41.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.54.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. Kraft Heinz’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. Research analysts predict that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.40%. 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.