Kraft Heinz (NASDAQ:KHC) Reaches New 1-Year High on Better-Than-Expected Earnings

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Kraft Heinz Co (NASDAQ:KHC)’s stock price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $35.87 and last traded at $35.57, with a volume of 6776022 shares traded. The stock had previously closed at $35.25.

The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.15. Kraft Heinz had a positive return on equity of 6.68% and a negative net margin of 0.76%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the company earned $0.78 EPS. Kraft Heinz’s revenue for the quarter was up 3.8% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 28th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 27th. This represents a $1.60 annualized dividend and a yield of 4.65%. Kraft Heinz’s payout ratio is 56.14%.

KHC has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Kraft Heinz from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. BidaskClub upgraded Kraft Heinz from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. DZ Bank upgraded Kraft Heinz from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research report on Tuesday, April 21st. Wells Fargo & Co upgraded Kraft Heinz from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $28.00 to $38.00 in a research report on Thursday, April 16th. Finally, Credit Suisse Group lifted their price objective on Kraft Heinz from $26.00 to $29.00 and gave the stock an “underperform” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $32.95.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harwood Advisory Group LLC purchased a new position in shares of Kraft Heinz in the 1st quarter valued at approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Kraft Heinz by 323.5% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,080 shares of the company’s stock valued at $27,000 after purchasing an additional 825 shares during the period. Horizon Bancorp Inc. IN lifted its stake in shares of Kraft Heinz by 38.4% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,246 shares of the company’s stock valued at $31,000 after purchasing an additional 346 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Kraft Heinz during the second quarter valued at $31,000. Finally, Bartlett & Co. LLC purchased a new position in Kraft Heinz during the first quarter valued at $33,000. Institutional investors own 57.72% of the company’s stock.

The stock has a 50 day simple moving average of $32.93 and a 200-day simple moving average of $29.36. The firm has a market cap of $42.02 billion, a PE ratio of 12.33, a PEG ratio of 2.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.09 and a quick ratio of 1.12.

About Kraft Heinz (NASDAQ:KHC)

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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