Kraft Heinz (NASDAQ:KHC) Updates FY 2024 Earnings Guidance

Kraft Heinz (NASDAQ:KHC) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.010-3.010 for the period, compared to the consensus EPS estimate of 3.020. The company issued revenue guidance of -. Kraft Heinz also updated its FY24 guidance to $3.01-3.07 EPS.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $33.49 on Friday. Kraft Heinz has a fifty-two week low of $31.58 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06. The firm has a market capitalization of $40.49 billion, a P/E ratio of 30.17, a PEG ratio of 3.30 and a beta of 0.49. The stock has a 50-day simple moving average of $35.15 and a two-hundred day simple moving average of $34.83.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results 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. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 4.78%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Analyst Ratings Changes

KHC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $35.00 in a research report on Thursday. Piper Sandler reduced their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday. Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday. Evercore ISI reduced their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup decreased their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.15.

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.