The Kraft Heinz Company (NASDAQ:KHC) to Post FY2022 Earnings of $2.71 Per Share, Jefferies Financial Group Forecasts

The Kraft Heinz Company (NASDAQ:KHC – Get Rating) – Analysts at Jefferies Financial Group lifted their FY2022 EPS estimates for shares of Kraft Heinz in a report released on Monday, January 16th. Jefferies Financial Group analyst R. Dickerson now expects that the company will post earnings per share of $2.71 for the year, up from their prior estimate of $2.65. The consensus estimate for Kraft Heinz’s current full-year earnings is $2.70 per share. Jefferies Financial Group also issued estimates for Kraft Heinz’s Q4 2022 earnings at $0.78 EPS, Q1 2023 earnings at $0.63 EPS, Q2 2023 earnings at $0.73 EPS, Q1 2024 earnings at $0.68 EPS and Q2 2024 earnings at $0.76 EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com started coverage on shares of Kraft Heinz in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Exane BNP Paribas assumed coverage on shares of Kraft Heinz in a research report on Tuesday, November 15th. They issued a “neutral” rating and a $39.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kraft Heinz from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, December 6th. UBS Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and set a $34.00 target price on the stock in a research report on Thursday, September 29th. Finally, Piper Sandler dropped their target price on shares of Kraft Heinz to $41.00 in a research report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.17.

Kraft Heinz Price Performance

Shares of KHC opened at $39.66 on Wednesday. Kraft Heinz has a twelve month low of $32.73 and a twelve month high of $44.87. The firm’s fifty day simple moving average is $39.99 and its 200-day simple moving average is $37.97. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 3.10 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Kraft Heinz had a net margin of 4.71% and a return on equity of 6.84%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.30 billion.

Institutional Trading of Kraft Heinz

Several hedge funds and other institutional investors have recently made changes to their positions in KHC. Vanguard Group Inc. lifted its stake in shares of Kraft Heinz by 15.3% in the third quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock valued at $2,251,197,000 after purchasing an additional 8,948,708 shares during the period. BlackRock Inc. lifted its stake in shares of Kraft Heinz by 25.3% in the third quarter. BlackRock Inc. now owns 56,572,464 shares of the company’s stock valued at $1,886,694,000 after purchasing an additional 11,428,520 shares during the period. State Street Corp lifted its stake in shares of Kraft Heinz by 8.2% in the third quarter. State Street Corp now owns 36,736,098 shares of the company’s stock valued at $1,225,149,000 after purchasing an additional 2,789,561 shares during the period. Franklin Resources Inc. lifted its stake in shares of Kraft Heinz by 6.6% in the second quarter. Franklin Resources Inc. now owns 15,346,439 shares of the company’s stock valued at $585,314,000 after purchasing an additional 943,921 shares during the period. Finally, Capital World Investors lifted its stake in shares of Kraft Heinz by 96.5% in the first quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after purchasing an additional 6,537,000 shares during the period. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Melissa Werneck sold 3,500 shares of Kraft Heinz stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $42.39, for a total value of $148,365.00. Following the sale, the executive vice president now owns 266,583 shares of the company’s stock, valued at $11,300,453.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, November 25th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, November 23rd. Kraft Heinz’s payout ratio is currently 163.27%.

Kraft Heinz Company Profile

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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.