Brokerages Anticipate Kraft Heinz Co (KHC) Will Post Earnings of $0.91 Per Share

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Brokerages predict that Kraft Heinz Co (NASDAQ:KHC) will announce earnings of $0.91 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Kraft Heinz’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.83. Kraft Heinz posted earnings per share of $0.98 in the same quarter last year, which suggests a negative year over year growth rate of 7.1%. The business is expected to announce its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Kraft Heinz will report full-year earnings of $3.72 per share for the current financial year, with EPS estimates ranging from $3.66 to $3.80. For the next fiscal year, analysts anticipate that the company will post earnings of $3.92 per share, with EPS estimates ranging from $3.81 to $4.06. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Kraft Heinz.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Friday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The company had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. Kraft Heinz’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS.

A number of brokerages recently issued reports on KHC. BidaskClub cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Saturday, August 11th. Bank of America reiterated a “buy” rating and issued a $85.00 price target on shares of Kraft Heinz in a research note on Thursday, May 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Kraft Heinz in a research note on Tuesday, August 7th. ValuEngine cut shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, BMO Capital Markets dropped their price target on shares of Kraft Heinz from $74.00 to $67.00 and set a “market perform” rating on the stock in a research note on Friday, May 4th. Five analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $75.25.

Kraft Heinz stock traded up $0.94 during mid-day trading on Thursday, reaching $60.03. The stock had a trading volume of 6,261,700 shares, compared to its average volume of 5,235,805. The stock has a market cap of $72.73 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.03 and a beta of 0.59. Kraft Heinz has a one year low of $54.11 and a one year high of $86.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 17th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, August 16th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.

In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co LLC increased its holdings in Kraft Heinz by 30.0% in the 2nd quarter. Global X Management Co LLC now owns 8,712 shares of the company’s stock worth $547,000 after acquiring an additional 2,011 shares in the last quarter. Carnegie Capital Asset Management LLC increased its holdings in Kraft Heinz by 27.9% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 160,146 shares of the company’s stock worth $9,706,000 after acquiring an additional 34,930 shares in the last quarter. MAI Capital Management purchased a new stake in Kraft Heinz in the 2nd quarter worth approximately $325,000. Bank of Nova Scotia increased its holdings in Kraft Heinz by 12.5% in the 2nd quarter. Bank of Nova Scotia now owns 122,234 shares of the company’s stock worth $7,679,000 after acquiring an additional 13,554 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Kraft Heinz in the 2nd quarter worth approximately $503,000. 62.48% of the stock is owned by institutional investors.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Earnings History and Estimates for Kraft Heinz (NASDAQ:KHC)

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