Kraft Heinz (NASDAQ:KHC) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Kraft Heinz (NASDAQ:KHCGet Rating) announced its quarterly earnings data on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.07, MarketWatch Earnings reports. Kraft Heinz had a net margin of 3.89% and a return on equity of 7.21%. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the company posted $0.72 earnings per share. Kraft Heinz’s quarterly revenue was down 5.5% on a year-over-year basis.

Shares of NASDAQ KHC traded up $0.41 during midday trading on Wednesday, reaching $42.72. 417,780 shares of the company traded hands, compared to its average volume of 7,355,917. The firm has a market cap of $52.33 billion, a PE ratio of 51.60, a PEG ratio of 3.34 and a beta of 0.98. The stock’s 50-day simple moving average is $39.77 and its 200-day simple moving average is $37.31. Kraft Heinz has a 12 month low of $32.78 and a 12 month high of $44.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, May 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.75%. Kraft Heinz’s payout ratio is presently 195.12%.

Several hedge funds and other institutional investors have recently modified their holdings of the business. First Community Trust NA bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $80,000. EP Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $211,000. Paradigm Financial Partners LLC bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $289,000. CWA Asset Management Group LLC bought a new position in shares of Kraft Heinz in the fourth quarter valued at about $345,000. Finally, JustInvest LLC raised its holdings in shares of Kraft Heinz by 35.2% in the fourth quarter. JustInvest LLC now owns 10,334 shares of the company’s stock valued at $371,000 after buying an additional 2,693 shares during the last quarter. 61.51% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research note on Monday, January 17th. Credit Suisse Group lifted their price target on shares of Kraft Heinz from $36.00 to $38.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kraft Heinz from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. UBS Group assumed coverage on shares of Kraft Heinz in a research note on Wednesday, March 30th. They set a “neutral” rating and a $40.00 price target on the stock. Finally, StockNews.com started coverage on shares of Kraft Heinz in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.88.

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.

Further Reading

Earnings History for Kraft Heinz (NASDAQ:KHC)

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