$6.08 Billion in Sales Expected for Kraft Heinz Co (NASDAQ:KHC) This Quarter

Analysts expect Kraft Heinz Co (NASDAQ:KHC) to announce $6.08 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kraft Heinz’s earnings. The highest sales estimate is $6.21 billion and the lowest is $5.95 billion. Kraft Heinz reported sales of $6.30 billion during the same quarter last year, which indicates a negative year over year growth rate of 3.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, July 3rd.

According to Zacks, analysts expect that Kraft Heinz will report full-year sales of $25.85 billion for the current fiscal year, with estimates ranging from $25.59 billion to $26.06 billion. For the next financial year, analysts anticipate that the firm will report sales of $26.04 billion, with estimates ranging from $25.73 billion to $26.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Kraft Heinz.

Several research firms have recently commented on KHC. BidaskClub raised Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Friday, April 5th. UBS Group cut their price target on Kraft Heinz from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Zacks Investment Research upgraded Kraft Heinz from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Piper Jaffray Companies upgraded Kraft Heinz from an “underweight” rating to a “neutral” rating and set a $31.00 price target on the stock in a research note on Friday, May 31st. Finally, Evercore ISI began coverage on Kraft Heinz in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $32.00 price target on the stock. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.22.

Several hedge funds have recently modified their holdings of KHC. Magellan Asset Management Ltd grew its holdings in shares of Kraft Heinz by 12.2% during the first quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock worth $1,211,094,000 after buying an additional 4,046,115 shares during the last quarter. FMR LLC grew its holdings in shares of Kraft Heinz by 16.7% during the fourth quarter. FMR LLC now owns 10,146,066 shares of the company’s stock worth $436,686,000 after buying an additional 1,452,407 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kraft Heinz by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 8,516,204 shares of the company’s stock worth $366,004,000 after buying an additional 957,359 shares during the last quarter. Norges Bank purchased a new position in shares of Kraft Heinz during the fourth quarter worth about $355,973,000. Finally, American International Group Inc. grew its holdings in shares of Kraft Heinz by 31.0% during the fourth quarter. American International Group Inc. now owns 7,692,416 shares of the company’s stock worth $331,082,000 after buying an additional 1,821,732 shares during the last quarter. 58.19% of the stock is currently owned by institutional investors.

KHC opened at $31.04 on Friday. The company has a market cap of $37.87 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 2.99 and a beta of 0.69. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. Kraft Heinz has a 12 month low of $26.96 and a 12 month high of $64.99. The stock has a fifty day moving average of $30.51.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Thursday, May 30th. Kraft Heinz’s payout ratio is 45.33%.

About Kraft Heinz

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

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