Q3 2019 EPS Estimates for Kraft Heinz Co Reduced by Analyst (NASDAQ:KHC)

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Kraft Heinz Co (NASDAQ:KHC) – Equities researchers at Piper Jaffray Companies reduced their Q3 2019 EPS estimates for shares of Kraft Heinz in a research report issued on Thursday, August 8th. Piper Jaffray Companies analyst M. Lavery now anticipates that the company will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.71. Piper Jaffray Companies currently has a “Neutral” rating and a $31.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Kraft Heinz’s Q4 2019 earnings at $0.69 EPS, FY2019 earnings at $2.69 EPS, Q1 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.62 EPS, Q4 2020 earnings at $0.73 EPS and FY2020 earnings at $2.66 EPS.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Kraft Heinz had a negative net margin of 38.95% and a positive return on equity of 6.89%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS.

KHC has been the subject of several other reports. BidaskClub raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. UBS Group lowered their price objective on shares of Kraft Heinz from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Bank of America reduced their price target on shares of Kraft Heinz from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Friday. Credit Suisse Group restated a “sell” rating and issued a $26.00 price target on shares of Kraft Heinz in a report on Tuesday, July 2nd. Finally, Evercore ISI began coverage on shares of Kraft Heinz in a report on Tuesday, June 11th. They issued an “in-line” rating and a $32.00 price target for the company. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.05.

Kraft Heinz stock opened at $26.50 on Friday. The stock has a market cap of $37.66 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 3.01 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.21. Kraft Heinz has a 1 year low of $26.05 and a 1 year high of $61.68. The firm has a 50-day moving average of $31.08.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.60 annualized dividend and a dividend yield of 6.04%. Kraft Heinz’s dividend payout ratio (DPR) is presently 45.33%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parsons Capital Management Inc. RI raised its stake in shares of Kraft Heinz by 3.3% during the 1st quarter. Parsons Capital Management Inc. RI now owns 10,387 shares of the company’s stock worth $339,000 after acquiring an additional 334 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Kraft Heinz by 1.2% during the 1st quarter. Trust Co. of Vermont now owns 29,613 shares of the company’s stock worth $967,000 after acquiring an additional 343 shares in the last quarter. AGF Investments America Inc. raised its stake in shares of Kraft Heinz by 1.8% during the 2nd quarter. AGF Investments America Inc. now owns 19,364 shares of the company’s stock worth $601,000 after acquiring an additional 350 shares in the last quarter. Investment Management of Virginia LLC raised its stake in shares of Kraft Heinz by 5.3% during the 2nd quarter. Investment Management of Virginia LLC now owns 7,006 shares of the company’s stock worth $217,000 after acquiring an additional 350 shares in the last quarter. Finally, Close Asset Management Ltd raised its stake in shares of Kraft Heinz by 6.4% during the 2nd quarter. Close Asset Management Ltd now owns 6,003 shares of the company’s stock worth $186,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 58.00% of the company’s stock.

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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