FY2024 EPS Estimates for Kraft Heinz Decreased by Analyst

15 Nov 2024, 06:54 by Jessica Moore · The Cerbat Gem

The Kraft Heinz Company (NASDAQ:KHC – Free Report) – Stock analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Kraft Heinz in a report issued on Wednesday, November 13th. Zacks Research analyst V. Bagree now forecasts that the company will earn $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.

KHC has been the topic of a number of other research reports. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Mizuho reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays lowered their target price on shares of 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. Finally, Wells Fargo & Company upped their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.00.

View Our Latest Research Report on KHC

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $31.79 on Friday. The firm has a market cap of $38.44 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49. Kraft Heinz has a 52 week low of $31.58 and a 52 week high of $38.96. The firm’s fifty day moving average is $34.71 and its 200-day moving average is $34.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake in shares of Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after buying an additional 189,000 shares during the last quarter. Legal & General Group Plc boosted its position in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares during the last quarter. Capital World Investors grew its stake in Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after purchasing an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after purchasing an additional 545,504 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

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