Kraft Heinz (NASDAQ:KHC) Issues Quarterly Earnings Results

Kraft Heinz (NASDAQ:KHC) announced its quarterly earnings results on Thursday. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03, Bloomberg Earnings reports. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.07 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis.

Shares of KHC stock traded down $1.72 during trading on Friday, hitting $26.50. The company had a trading volume of 19,399,695 shares, compared to its average volume of 8,709,009. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $31.08. The firm has a market cap of $34.43 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 2.76 and a beta of 0.74. Kraft Heinz has a 52 week low of $26.05 and a 52 week high of $61.68.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio (DPR) is 45.33%.

A number of brokerages have recently issued reports on KHC. Piper Jaffray Companies raised shares of Kraft Heinz from an “underweight” rating to a “neutral” rating and set a $31.00 price target on the stock in a report on Friday, May 31st. UBS Group lowered their price target on shares of Kraft Heinz from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. BidaskClub raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Bank of America lowered their price target on shares of Kraft Heinz from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.05.

Hedge funds have recently bought and sold shares of the stock. Freestone Capital Holdings LLC bought a new position in shares of Kraft Heinz in the first quarter worth approximately $9,811,000. Meridian Wealth Management LLC bought a new position in Kraft Heinz during the first quarter valued at approximately $27,000. Putnam FL Investment Management Co. bought a new position in Kraft Heinz during the second quarter valued at approximately $27,000. Zions Bancorporation N.A. grew its position in Kraft Heinz by 303.4% during the second quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in Kraft Heinz during the second quarter valued at approximately $31,000. Institutional investors own 58.00% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Earnings History for Kraft Heinz (NASDAQ:KHC)

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