Analysts predict that The Kraft Heinz Company (NASDAQ:KHC) will report $6.33 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for The Kraft Heinz’s earnings, with the lowest sales estimate coming in at $6.27 billion and the highest estimate coming in at $6.37 billion. The Kraft Heinz reported sales of $6.27 billion during the same quarter last year, which indicates a positive year over year growth rate of 1%. The firm is expected to announce its next earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that The Kraft Heinz will report full year sales of $6.33 billion for the current fiscal year, with estimates ranging from $26.25 billion to $26.49 billion. For the next year, analysts anticipate that the business will report sales of $27.00 billion per share, with estimates ranging from $26.63 billion to $27.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow The Kraft Heinz.
The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.73 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share.
Several research firms have recently weighed in on KHC. Berenberg Bank set a $102.00 price objective on shares of The Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 7th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of The Kraft Heinz in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Morgan Stanley lowered their price objective on shares of The Kraft Heinz from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, October 13th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $95.00 price objective on shares of The Kraft Heinz in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The Kraft Heinz presently has an average rating of “Buy” and a consensus price target of $95.53.
The Kraft Heinz (KHC) opened at 77.54 on Wednesday. The Kraft Heinz has a one year low of $76.76 and a one year high of $97.77. The firm has a market capitalization of $94.46 billion, a P/E ratio of 24.85 and a beta of 0.44. The stock’s 50 day moving average is $79.73 and its 200 day moving average is $86.54.
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A number of large investors have recently modified their holdings of the stock. Eqis Capital Management Inc. increased its position in shares of The Kraft Heinz by 5.0% in the third quarter. Eqis Capital Management Inc. now owns 18,024 shares of the company’s stock valued at $1,398,000 after acquiring an additional 857 shares during the period. Perpetual Ltd increased its position in shares of The Kraft Heinz by 13.0% in the second quarter. Perpetual Ltd now owns 6,100 shares of the company’s stock valued at $522,000 after acquiring an additional 700 shares during the period. MPS Loria Financial Planners LLC purchased a new position in shares of The Kraft Heinz in the second quarter valued at about $506,000. Intl Fcstone Inc. purchased a new position in shares of The Kraft Heinz in the second quarter valued at about $270,000. Finally, M Holdings Securities Inc. purchased a new position in shares of The Kraft Heinz in the second quarter valued at about $221,000. Institutional investors own 61.76% of the company’s stock.
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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