Zacks: Analysts Expect The Kraft Heinz Company (NASDAQ:KHC) Will Post Quarterly Sales of $5.77 Billion

Wall Street analysts expect that The Kraft Heinz Company (NASDAQ:KHCGet Rating) will post sales of $5.77 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Kraft Heinz’s earnings, with the highest sales estimate coming in at $5.90 billion and the lowest estimate coming in at $5.57 billion. Kraft Heinz posted sales of $6.39 billion during the same quarter last year, which indicates a negative year over year growth rate of 9.7%. The firm is expected to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Kraft Heinz will report full year sales of $24.89 billion for the current year, with estimates ranging from $24.64 billion to $25.24 billion. For the next fiscal year, analysts anticipate that the company will post sales of $24.99 billion, with estimates ranging from $24.50 billion to $25.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Kraft Heinz.

Kraft Heinz (NASDAQ:KHCGet Rating) last released its quarterly earnings data on Tuesday, February 15th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.16. Kraft Heinz had a net margin of 3.89% and a return on equity of 7.21%. The business had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the business earned $0.80 earnings per share. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group raised their target price on shares of Kraft Heinz from $36.00 to $38.00 and gave the stock an “underperform” rating in a report on Wednesday, February 23rd. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a report on Monday, January 17th. UBS Group started coverage on shares of Kraft Heinz in a report on Wednesday, March 30th. They set a “neutral” rating and a $40.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Kraft Heinz from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $46.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.88.

Institutional investors have recently modified their holdings of the company. AlphaMark Advisors LLC boosted its stake in Kraft Heinz by 521.7% in the 4th quarter. AlphaMark Advisors LLC now owns 715 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in Kraft Heinz in the 3rd quarter worth approximately $29,000. TAP Consulting LLC acquired a new stake in Kraft Heinz in the 4th quarter worth approximately $29,000. Larson Financial Group LLC boosted its stake in Kraft Heinz by 383.7% in the 4th quarter. Larson Financial Group LLC now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 637 shares in the last quarter. Finally, Rather & Kittrell Inc. acquired a new stake in Kraft Heinz during the 4th quarter valued at approximately $33,000. 61.51% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz stock opened at $41.25 on Tuesday. The firm has a 50-day moving average price of $38.13 and a 200-day moving average price of $36.87. The firm has a market capitalization of $50.53 billion, a PE ratio of 50.31, a price-to-earnings-growth ratio of 3.10 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43. Kraft Heinz has a 12-month low of $32.78 and a 12-month high of $44.95.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Thursday, March 10th. Kraft Heinz’s payout ratio is currently 195.12%.

Kraft Heinz Company Profile (Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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Earnings History and Estimates for Kraft Heinz (NASDAQ:KHC)

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