Kraft Heinz FY2024 EPS Estimate Decreased by Zacks Research

The Kraft Heinz Company (NASDAQ:KHC) – Investment analysts at Zacks Research cut their FY2024 earnings estimates for Kraft Heinz in a report issued on Wednesday, November 13th. Zacks Research analyst V. Bagree now expects that the company will post earnings of $3.01 per share for the year, down from their previous forecast of $3.02. The consensus estimate for Kraft Heinz’s current full-year earnings is $3.01 per share. Zacks Research also issued estimates for Kraft Heinz’s Q4 2024 earnings at $0.79 EPS, Q1 2025 earnings at $0.70 EPS, Q4 2025 earnings at $0.79 EPS, FY2025 earnings at $3.03 EPS, Q1 2026 earnings at $0.72 EPS, Q2 2026 earnings at $0.82 EPS, Q3 2026 earnings at $0.80 EPS and FY2026 earnings at $3.18 EPS.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Citigroup cut their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays lowered their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.00.

Kraft Heinz Stock Down 2.0 %

Shares of NASDAQ KHC opened at $31.14 on Friday. Kraft Heinz has a 52-week low of $30.40 and a 52-week high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The company’s 50 day moving average price is $34.53 and its 200-day moving average price is $34.46. The company has a market capitalization of $37.65 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the first quarter valued at about $27,000. Fortitude Family Office LLC increased its stake in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the last quarter. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz in the third quarter valued at approximately $32,000. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

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.