Q2 2024 EPS Estimates for The Kraft Heinz Company (NASDAQ:KHC) Cut by Analyst

The Kraft Heinz Company (NASDAQ:KHC - Free Report) - Stock analysts at Zacks Research decreased their Q2 2024 earnings per share estimates for Kraft Heinz in a research note issued on Tuesday, May 14th. Zacks Research analyst V. Bagree now expects that the company will post earnings of $0.74 per share for the quarter, down from their prior estimate of $0.75. The consensus estimate for Kraft Heinz's current full-year earnings is $3.02 per share. Zacks Research also issued estimates for Kraft Heinz's Q2 2025 earnings at $0.79 EPS, FY2025 earnings at $3.16 EPS, Q1 2026 earnings at $0.73 EPS and FY2026 earnings at $3.26 EPS.

Other research analysts have also recently issued research reports about the stock. Bank of America raised their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Citigroup assumed coverage on Kraft Heinz in a research note on Thursday, February 1st. They issued a "buy" rating and a $43.00 price target for the company. Finally, Wells Fargo & Company decreased their target price on Kraft Heinz from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $39.50.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $0.34 during trading on Wednesday, hitting $35.85. The stock had a trading volume of 6,162,234 shares, compared to its average volume of 8,048,981. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $39.97. The stock has a 50-day simple moving average of $36.43 and a two-hundred day simple moving average of $36.03. The stock has a market capitalization of $43.53 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.93 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KHC. Vanguard Group Inc. raised its stake in Kraft Heinz by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company's stock valued at $2,603,349,000 after acquiring an additional 183,234 shares during the last quarter. Invesco Ltd. grew its holdings in Kraft Heinz by 10.7% during the third quarter. Invesco Ltd. now owns 24,601,098 shares of the company's stock worth $827,581,000 after acquiring an additional 2,369,080 shares during the period. Morgan Stanley lifted its stake in shares of Kraft Heinz by 7.2% in the third quarter. Morgan Stanley now owns 12,580,726 shares of the company's stock valued at $423,216,000 after purchasing an additional 850,326 shares during the period. LSV Asset Management grew its position in Kraft Heinz by 27.1% during the third quarter. LSV Asset Management now owns 9,263,400 shares of the company's stock worth $311,621,000 after buying an additional 1,977,571 shares during the period. Finally, Northern Trust Corp increased its holdings in Kraft Heinz by 3.7% in the third quarter. Northern Trust Corp now owns 9,120,015 shares of the company's stock valued at $306,797,000 after buying an additional 324,450 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Buying and Selling at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.46%. The ex-dividend date is Thursday, June 6th. Kraft Heinz's payout ratio is 69.87%.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.