Analysts Expect The Kraft Heinz Company (KHC) Will Announce Quarterly Sales of $6.33 Billion
Analysts predict that The Kraft Heinz Company (NASDAQ:KHC) will report sales of $6.33 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for The Kraft Heinz’s earnings, with the lowest sales estimate coming in at $6.27 billion and the highest estimate coming in at $6.37 billion. The Kraft Heinz posted sales of $6.27 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that The Kraft Heinz will report full-year sales of $6.33 billion for the current year, with estimates ranging from $26.25 billion to $26.49 billion. For the next financial year, analysts forecast that the company will report sales of $27.00 billion per share, with estimates ranging from $26.63 billion to $27.70 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for The Kraft Heinz.
The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The firm had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share.
KHC has been the subject of several analyst reports. UBS AG reissued a “buy” rating and issued a $89.00 price objective (down previously from $97.00) on shares of The Kraft Heinz in a research note on Friday, October 13th. Credit Suisse Group set a $100.00 price objective on shares of The Kraft Heinz and gave the stock a “buy” rating in a research note on Sunday, September 10th. BidaskClub raised shares of The Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Piper Jaffray Companies raised shares of The Kraft Heinz from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $92.00 to $90.00 in a research note on Friday, October 6th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $95.00 price objective on shares of The Kraft Heinz in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $95.53.
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Several large investors have recently modified their holdings of KHC. Waldron LP increased its position in shares of The Kraft Heinz by 5.8% during the first quarter. Waldron LP now owns 4,518 shares of the company’s stock worth $410,000 after acquiring an additional 247 shares during the period. Kistler Tiffany Companies LLC increased its holdings in The Kraft Heinz by 0.8% during the first quarter. Kistler Tiffany Companies LLC now owns 3,003 shares of the company’s stock valued at $273,000 after buying an additional 25 shares during the period. Community Bank & Trust Waco Texas increased its holdings in The Kraft Heinz by 0.6% during the first quarter. Community Bank & Trust Waco Texas now owns 11,860 shares of the company’s stock valued at $1,077,000 after buying an additional 74 shares during the period. Gabelli Funds LLC increased its holdings in The Kraft Heinz by 0.4% during the first quarter. Gabelli Funds LLC now owns 398,600 shares of the company’s stock valued at $36,197,000 after buying an additional 1,600 shares during the period. Finally, Cedar Capital LLC purchased a new position in The Kraft Heinz during the first quarter valued at approximately $267,000. 61.76% of the stock is currently owned by institutional investors and hedge funds.
The Kraft Heinz (NASDAQ:KHC) traded up 0.31% on Wednesday, hitting $76.71. The stock had a trading volume of 4,761,193 shares. The Kraft Heinz has a 52-week low of $76.12 and a 52-week high of $97.77. The company’s 50 day moving average price is $79.15 and its 200 day moving average price is $86.11. The firm has a market cap of $93.45 billion, a price-to-earnings ratio of 24.59 and a beta of 0.44.
The Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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