Kraft Heinz FY2024 EPS Forecast Reduced by Zacks Research

The Kraft Heinz Company (NASDAQ:KHC) – Analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of Kraft Heinz in a research note 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 prior 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 earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year.

Several other equities analysts also recently issued reports on KHC. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Barclays reduced their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $38.00 in a research note on Friday, October 25th. One 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. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Trading Down 2.0 %

NASDAQ KHC opened at $31.14 on Friday. The firm’s fifty day moving average price is $34.62 and its 200 day moving average price is $34.52. Kraft Heinz has a 12 month low of $30.40 and a 12 month high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The company has a market capitalization of $37.65 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49.

Hedge Funds Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz during the 1st quarter worth approximately $27,000. Fortitude Family Office LLC increased its position in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz in the third quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares in the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Kraft Heinz during the third quarter valued at $32,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a 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.