Kraft Heinz (NASDAQ:KHC) Sets New 12-Month High After Better-Than-Expected Earnings

Kraft Heinz Co (NASDAQ:KHC) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $35.87 and last traded at $35.57, with a volume of 6776022 shares traded. The stock had previously closed at $35.25.

The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.15. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, August 28th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.65%. Kraft Heinz’s dividend payout ratio (DPR) is presently 56.14%.

A number of equities research analysts have issued reports on KHC shares. Credit Suisse Group upped their price objective on Kraft Heinz from $26.00 to $29.00 and gave the company an “underperform” rating in a research report on Friday, May 1st. Jefferies Financial Group upped their target price on Kraft Heinz from $32.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, July 27th. Guggenheim cut Kraft Heinz from a “neutral” rating to a “sell” rating and upped their target price for the company from $27.00 to $30.00 in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their target price on Kraft Heinz from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, BidaskClub raised Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.95.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. acquired a new stake in Kraft Heinz in the 1st quarter worth about $6,023,000. Aperio Group LLC boosted its holdings in Kraft Heinz by 16.5% in the 1st quarter. Aperio Group LLC now owns 457,266 shares of the company’s stock worth $11,313,000 after buying an additional 64,639 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Kraft Heinz by 3.3% in the 1st quarter. Texas Permanent School Fund now owns 113,229 shares of the company’s stock worth $2,801,000 after buying an additional 3,573 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in Kraft Heinz by 11.2% in the 2nd quarter. Raymond James Trust N.A. now owns 19,944 shares of the company’s stock worth $636,000 after buying an additional 2,004 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Kraft Heinz in the 1st quarter worth about $586,000. 57.72% of the stock is currently owned by institutional investors and hedge funds.

The company has a current ratio of 1.09, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $32.93 and a 200-day moving average of $29.36. The company has a market capitalization of $42.02 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.36 and a beta of 1.01.

About Kraft Heinz (NASDAQ:KHC)

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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