Kraft Heinz (KHC) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Kraft Heinz (NASDAQ:KHC) issued its quarterly earnings data on Friday. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.06), Bloomberg Earnings reports. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.91 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share.

Kraft Heinz (NASDAQ:KHC) traded down $1.91 on Friday, reaching $70.80. The company’s stock had a trading volume of 14,643,115 shares, compared to its average volume of 4,865,756. The firm has a market capitalization of $86,267.54, a P/E ratio of 7.90, a price-to-earnings-growth ratio of 1.90 and a beta of 0.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43. Kraft Heinz has a 12-month low of $67.65 and a 12-month high of $97.77.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.53%. Kraft Heinz’s dividend payout ratio (DPR) is 27.90%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tredje AP fonden lifted its position in shares of Kraft Heinz by 14.6% during the 2nd quarter. Tredje AP fonden now owns 77,998 shares of the company’s stock valued at $6,680,000 after acquiring an additional 9,955 shares during the last quarter. CIBC World Markets Inc. lifted its position in shares of Kraft Heinz by 13.6% during the 2nd quarter. CIBC World Markets Inc. now owns 240,260 shares of the company’s stock valued at $20,576,000 after acquiring an additional 28,752 shares during the last quarter. Eaton Vance Management lifted its position in shares of Kraft Heinz by 2.1% during the 2nd quarter. Eaton Vance Management now owns 155,572 shares of the company’s stock valued at $13,323,000 after acquiring an additional 3,235 shares during the last quarter. AXA lifted its position in shares of Kraft Heinz by 4.4% during the 2nd quarter. AXA now owns 409,392 shares of the company’s stock valued at $35,060,000 after acquiring an additional 17,261 shares during the last quarter. Finally, Private Wealth Advisors Inc. lifted its position in shares of Kraft Heinz by 19.9% during the 2nd quarter. Private Wealth Advisors Inc. now owns 7,526 shares of the company’s stock valued at $645,000 after acquiring an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 61.93% of the company’s stock.

KHC has been the subject of several analyst reports. BidaskClub upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Citigroup reduced their price objective on Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $90.00 price objective (down from $100.00) on shares of Kraft Heinz in a research report on Thursday, November 2nd. Finally, Susquehanna Bancshares reduced their price objective on Kraft Heinz from $83.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.19.

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About Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

Earnings History for Kraft Heinz (NASDAQ:KHC)

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