Brokerages Expect Kraft Heinz Co (KHC) Will Post Quarterly Sales of $6.08 Billion

Equities analysts expect Kraft Heinz Co (NASDAQ:KHC) to report sales of $6.08 billion for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Kraft Heinz’s earnings, with estimates ranging from $5.95 billion to $6.21 billion. Kraft Heinz posted sales of $6.30 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 22nd.

On average, analysts expect that Kraft Heinz will report full year sales of $25.85 billion for the current year, with estimates ranging from $25.58 billion to $26.06 billion. For the next year, analysts expect that the company will post sales of $26.04 billion, with estimates ranging from $25.73 billion to $26.39 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Kraft Heinz.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, February 21st. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.10). Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The business had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Kraft Heinz’s revenue for the quarter was up .7% compared to the same quarter last year.

KHC has been the topic of several recent research reports. BidaskClub lowered shares of Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Thursday, April 25th. Deutsche Bank lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $58.00 to $52.00 in a report on Tuesday, February 5th. JPMorgan Chase & Co. lowered shares of Kraft Heinz from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $37.00 in a report on Friday, February 22nd. Argus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $34.35 price target on the stock. in a report on Tuesday, February 26th. Finally, UBS Group lowered shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $39.00 in a report on Friday, February 22nd. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.17.

NASDAQ:KHC traded down $0.10 during mid-day trading on Wednesday, hitting $31.88. The company’s stock had a trading volume of 5,085,137 shares, compared to its average volume of 10,502,464. Kraft Heinz has a 1 year low of $31.53 and a 1 year high of $64.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 1.22. The firm has a market cap of $38.94 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 3.14 and a beta of 0.58.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, May 30th. Kraft Heinz’s payout ratio is currently 45.33%.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc raised its holdings in Kraft Heinz by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 46,457,007 shares of the company’s stock valued at $2,560,246,000 after acquiring an additional 1,123,288 shares during the last quarter. Magellan Asset Management Ltd grew its position in Kraft Heinz by 12.2% in the 1st quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock valued at $1,211,094,000 after buying an additional 4,046,115 shares in the last quarter. BlackRock Inc. grew its position in Kraft Heinz by 2.8% in the 4th quarter. BlackRock Inc. now owns 37,036,208 shares of the company’s stock valued at $1,594,037,000 after buying an additional 999,937 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Kraft Heinz by 6,999.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,500,383 shares of the company’s stock valued at $244,000 after buying an additional 10,352,489 shares in the last quarter. Finally, FMR LLC grew its position in Kraft Heinz by 16.7% in the 4th quarter. FMR LLC now owns 10,146,066 shares of the company’s stock valued at $436,686,000 after buying an additional 1,452,407 shares in the last quarter. 62.00% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.

Read More: What is a Market Correction?

Get a free copy of the Zacks research report on Kraft Heinz (KHC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.