The Kraft Heinz Company (KHC) Expected to Announce Quarterly Sales of $6.99 Billion
Equities analysts expect The Kraft Heinz Company (NASDAQ:KHC) to post $6.99 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for The Kraft Heinz’s earnings. The lowest sales estimate is $6.94 billion and the highest is $7.06 billion. The Kraft Heinz reported sales of $6.86 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The company is expected to announce its next quarterly earnings report on Wednesday, February 21st.
On average, analysts expect that The Kraft Heinz will report full-year sales of $6.99 billion for the current financial year, with estimates ranging from $26.25 billion to $26.46 billion. For the next year, analysts forecast that the company will post sales of $26.99 billion per share, with estimates ranging from $26.63 billion to $27.69 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for The Kraft Heinz.
The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. The Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue was up .7% compared to the same quarter last year.
Several brokerages have recently commented on KHC. Morgan Stanley reduced their price objective on shares of The Kraft Heinz from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price objective on shares of The Kraft Heinz in a research report on Thursday, September 21st. 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 report on Sunday, September 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $96.00 price objective on shares of The Kraft Heinz in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $92.49.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Chip Partners Inc. boosted its holdings in The Kraft Heinz by 0.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after acquiring an additional 8 shares during the last quarter. Martingale Asset Management L P boosted its holdings in The Kraft Heinz by 0.5% during the 2nd quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock worth $234,000 after acquiring an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America boosted its holdings in The Kraft Heinz by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock worth $209,000 after acquiring an additional 16 shares during the last quarter. Ropes Wealth Advisors LLC boosted its holdings in The Kraft Heinz by 0.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock worth $329,000 after acquiring an additional 17 shares during the last quarter. Finally, National Asset Management Inc. boosted its holdings in The Kraft Heinz by 0.5% during the 1st quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock worth $408,000 after acquiring an additional 21 shares during the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of The Kraft Heinz (KHC) opened at $77.00 on Tuesday. The company has a market cap of $95,023.58, a P/E ratio of 21.91, a PEG ratio of 1.99 and a beta of 0.43. The Kraft Heinz has a 52-week low of $75.21 and a 52-week high of $97.77. The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.48.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 16th. The Kraft Heinz’s payout ratio is currently 77.88%.
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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