Economy

The Kraft Heinz (KHC) Earning Somewhat Favorable Press Coverage, Analysis Shows

The Kraft Heinz (KHC) Earning Somewhat Favorable Press Coverage, Analysis Shows”

The company expects between $1.7 billion and $1.8 billion of cumulative Integration Program savings by the end of 2017, or $500 million to $600 million of net incremental savings. Tiedemann Wealth Management LLC now owns 47,256 shares of the company's stock valued at $4,291,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Green Valley Investors LLC grew its position in shares of The Kraft Heinz by 153.4% in the second quarter. The institutional investor bought 3,276 shares of the company's stock, valued at approximately $281,000. Vanguard Group Inc. increased its holdings in The Kraft Heinz by 3.9% in the 1st quarter. FMR LLC now owns 8,856,976 shares of the company's stock valued at $804,302,000 after buying an additional 790,267 shares during the period. FMR LLC increased its holdings in The Kraft Heinz by 9.8% in the 1st quarter. Teachers Advisors LLC now owns 2,612,412 shares of the company's stock valued at $223,727,000 after acquiring an additional 285,916 shares in the last quarter. Kraft Heinz's European operation only accounted for $599 million's worth of group sales this quarter. CWA Asset Management Group LLC now owns 4,134 shares of the company's stock valued at $354,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 61.79% of the company's stock.

The Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, November 1st.

Reported sales of $6.31 billion fell marginally shy of the Zacks Consensus Estimate of $6.32 billion by 0.1%. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%.

The 0.3% dip in United States revenue, however, compared to rises for other packaged food companies and came at a time when the firm is struggling with the shift by consumers and retailers away from its processed food toward fresh produce. Its US business turned over $4.38 billion - down 0.4% on past year, despite growth in its Lunchables and P3 brands as well as gains in foodservice.

"... The change in the retail landscape is not something new", said Georges El-Zoghbi, strategic adviser for The Kraft Heinz Co., during the call.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th.

Rest of World Segment Adjusted EBITDA increased 2.7 percent versus the year-ago period to $149 million, despite an unfavorable 3.7 percentage point impact from currency.

Despite these challenges, Kraft Heinz's leadership expressed optimism that the food giant, headquartered in both Chicago and Pittsburgh, can adapt quickly to the changing retail landscape and stay relevant in all channels, as CEO Bernardo Hees put it on a November 1 earnings call with analysts.

KHC has been the topic of several analyst reports. Notably, the company's shares decreased 1.5% in after-hours trading on Nov 1, in response to weaker sales results. Susquehanna Bancshares Inc reissued a "hold" rating and issued a $84.00 price target on shares of The Kraft Heinz in a report on Thursday, September 14th.

Adjusted earnings per share of 83 cents were on par with the Zacks Consensus Estimate as well as the year-ago figure. Piper Jaffray Companies upgraded The Kraft Heinz from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $92.00 to $90.00 in a research report on Friday, October 6th. BidaskClub cut The Kraft Heinz from a "sell" rating to a "strong sell" rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Our experts cover all kinds of trades... from value to momentum. from stocks under $10 to ETF and option moves. from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises.

COPYRIGHT VIOLATION WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of USA & global copyright and trademark law. Cost-saving initiatives as well as higher demand for its frozen foods and Kashi snacks helped the company offset the industry-wide soft consumption trends for packaged food items.



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