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The Kraft Heinz Company (NASDAQ: KHC) In 2023: Will It Be Worth Your Money?

In the latest trading session, 1.57 million The Kraft Heinz Company (NASDAQ:KHC) shares changed hands as the company’s beta touched 0.68. With the company’s most recent per share price at $33.55 changing hands around $0.13 or 0.39% at last look, the market valuation stands at $41.60B. KHC’s current price is a discount, trading about -27.57% off its 52-week high of $42.80. The share price had its 52-week low at $32.42, which suggests the last value was 3.37% up since then. When we look at The Kraft Heinz Company’s average trading volume, we note the 10-day average is 8.15 million shares, with the 3-month average coming to 7.65 million.

Analysts gave the The Kraft Heinz Company (KHC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 0 out of 21 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 13 recommended KHC as a Hold, 8 felt it is a Buy and 0 rated the stock as Underweight. The Kraft Heinz Company’s EPS for the current quarter is expected to be $0.66.

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The Kraft Heinz Company (NASDAQ:KHC) trade information

Instantly KHC is in green as seen in intraday trades today. With action -0.03%, the performance over the past five days has been red. The jump to weekly highs of 33.85 on Monday, 09/18/23 added 0.39% to the stock’s daily price. The company’s shares are showing year-to-date downside of -17.59%, with the 5-day performance at -0.03% in the red. However, in the 30-day time frame, The Kraft Heinz Company (NASDAQ:KHC) is -0.33% down. Looking at the short shares, we see there were 15.03 million shares sold at short interest cover period of 2.03 days.

The consensus price target for the stock as assigned by Wall Street analysts is $40.83, meaning bulls need an upside of 17.83% from its recent market value. According to analyst projections, KHC’s forecast low is $35.00 with $48.00 as the target high. To hit the forecast high, the stock’s price needs a -43.07% plunge from its current level, while the stock would need to soar -4.32% for it to hit the projected low.

The Kraft Heinz Company (KHC) estimates and forecasts

Data shows that the The Kraft Heinz Company share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.57% over the past 6 months, a 3.96% in annual growth rate that is considerably higher than the industry average of 2.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for The Kraft Heinz Company will rise 4.80%, while the growth in revenue is estimated to hit -9.40% for the next quarter. Year-over-year growth is forecast to reach 2.20% up from the last financial year.

Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $6.74 billion. 14 analysts are of the opinion that The Kraft Heinz Company’s revenue for the quarter ending Dec 2023 will be $7.13 billion. The company’s revenue for the corresponding quarters a year ago was $6.5 billion and $7.38 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 3.60%. The estimates for the next quarter sales put growth at -3.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -9.80%. The 2023 estimates are for The Kraft Heinz Company earnings to increase by 204.40%, but the outlook for the next 5-year period is at 5.17% per year.

KHC Dividends

The Kraft Heinz Company is expected to release its next quarterly earnings report in October. The 4.77% annual yield figure for the share gives it an annual dividend of 1.60. It is important to note, however, that the 4.77% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

The Kraft Heinz Company (NASDAQ:KHC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.38% of The Kraft Heinz Company shares while 83.42% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.59%. There are 83.42% institutions holding the The Kraft Heinz Company stock share, with Berkshire Hathaway, Inc the top institutional holder. As of Jun 29, 2023, the company held 26.51% of the shares, roughly 325.63 million KHC shares worth $11.56 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.78% or 83.29 million shares worth $2.96 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF. With 24.83 million shares estimated at $881.45 million under it, the former controlled 2.02% of total outstanding shares. On the other hand, Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF held about 1.69% of the shares, roughly 20.8 million shares worth around $688.22 million.

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