Q1 2023 Earnings Forecast for The Kraft Heinz Company (NASDAQ:KHC) Issued By Jefferies Financial Group

Defense World · Jan 27, 2023 15:12

The Kraft Heinz Company (NASDAQ:KHC – Get Rating) – Equities research analysts at Jefferies Financial Group lifted their Q1 2023 earnings estimates for shares of Kraft Heinz in a report released on Tuesday, January 24th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.63. The consensus estimate for Kraft Heinz's current full-year earnings is $2.71 per share. Jefferies Financial Group also issued estimates for Kraft Heinz's Q2 2023 earnings at $0.74 EPS, Q3 2023 earnings at $0.67 EPS, Q4 2023 earnings at $0.79 EPS, FY2023 earnings at $2.84 EPS and FY2024 earnings at $2.97 EPS.

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Several other research analysts have also issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Kraft Heinz in a report on Tuesday, January 3rd. They set an "equal weight" rating and a $43.00 price target for the company. StockNews.com initiated coverage on shares of Kraft Heinz in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Piper Sandler reduced their price objective on shares of Kraft Heinz to $41.00 in a research report on Wednesday, October 5th. Morgan Stanley raised their price objective on shares of Kraft Heinz from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 20th. Finally, BNP Paribas initiated coverage on shares of Kraft Heinz in a research report on Tuesday, November 15th. They set a "neutral" rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.17.

Kraft Heinz Stock Down 0.7 %

Shares of NASDAQ KHC opened at $39.66 on Thursday. The company has a 50 day simple moving average of $40.30 and a 200 day simple moving average of $38.04. The firm has a market cap of $48.58 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 2.91 and a beta of 0.73. Kraft Heinz has a 1 year low of $32.73 and a 1 year high of $44.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.50.

Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.30 billion. Kraft Heinz had a net margin of 4.71% and a return on equity of 6.84%.

Institutional Trading of Kraft Heinz

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Kraft Heinz by 25.3% during the third quarter. BlackRock Inc. now owns 56,572,464 shares of the company's stock valued at $1,886,694,000 after acquiring an additional 11,428,520 shares in the last quarter. Vanguard Group Inc. raised its holdings in Kraft Heinz by 15.3% in the third quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company's stock worth $2,251,197,000 after purchasing an additional 8,948,708 shares in the last quarter. Capital World Investors raised its holdings in Kraft Heinz by 96.5% in the first quarter. Capital World Investors now owns 13,312,000 shares of the company's stock worth $524,360,000 after purchasing an additional 6,537,000 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Kraft Heinz by 301.2% in the third quarter. Nuveen Asset Management LLC now owns 6,416,759 shares of the company's stock worth $213,999,000 after purchasing an additional 4,817,233 shares in the last quarter. Finally, Continental Grain Co. bought a new position in Kraft Heinz in the second quarter worth $132,216,000. Institutional investors own 68.80% of the company's stock.

Insider Activity

In other news, EVP Melissa Werneck sold 3,500 shares of the business's stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $42.39, for a total transaction of $148,365.00. Following the completion of the transaction, the executive vice president now owns 266,583 shares of the company's stock, valued at $11,300,453.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company's stock.

About Kraft Heinz

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

Q1 2023 Earnings Forecast for The Kraft Heinz Company (NASDAQ:KHC) Issued By Jefferies Financial Group

Kraft Heinz Stock Down 0.7 %

Institutional Trading of Kraft Heinz

Insider Activity

About Kraft Heinz

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