Zacks Research Reduces Earnings Estimates for Kraft Heinz

The Kraft Heinz Company (NASDAQ:KHC) – Zacks Research lowered their FY2024 EPS estimates for Kraft Heinz in a research report issued on Wednesday, November 13th. Zacks Research analyst V. Bagree now anticipates that the company will earn $3.01 per share for the year, down from their previous 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.

Several other analysts have also commented on the stock. Piper Sandler dropped their price target on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. 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, November 1st. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $31.14 on Friday. The firm’s fifty day moving average is $34.62 and its two-hundred day moving average is $34.52. The firm has a market cap of $37.65 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 3.67 and a beta of 0.49. Kraft Heinz has a one year low of $30.40 and a one year high of $38.96. 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) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.14%. Kraft Heinz’s payout ratio is 144.14%.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction 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 approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Kraft Heinz in the third quarter valued at approximately $411,304,000. State Street Corp grew its stake in shares of Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Capital World Investors increased its position in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after acquiring an additional 1,778,263 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Kraft Heinz by 387.7% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company’s stock valued at $51,086,000 after purchasing an additional 1,156,712 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.