Kraft Heinz Co (NASDAQ:KHC) posted Hold recommendations count at 2. GIS and Campbell Soup Company CPB, has been witnessing weak volumes because of the shift in consumer preference toward natural and organic ingredients over packaged and processed food.
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Check back later for our full analysis on Kraft Heinz’s latest quarterly earnings report!
Kraft Heinz, among the largest food makers in the world, is run by Brazilian private-equity firm 3G, which is known for its zero-base budgeting philosophy that calls for departments to justify every cent they spend every year. Kraft Heinz Co makes up approx 0.10% of Bbva Compass Bancshares Inc’s portfolio.New York State Teachers Retirement System reduced its stake in KHC by selling 3,885 shares or 0.36% in the most recent quarter.
Net sales were $6.8 billion, down 4.7 percent versus pro forma net sales for the year-ago period, due to a negative 4.0 percentage point impact from currency and a negative 0.2 percentage point impact from divestitures. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. During the same period in the prior year, the business earned $0.92 earnings per share.
“As an industry, we are in an environment where retail competition is intensifying in our biggest and most mature markets, including the United States, Canada, the UK, Continental Europe and Australia”, Hees said.
Kraft Heinz Co (NASDAQ:KHC)’s price to sales ratio for trailing twelve months is 4.79 and price to book ratio for most recent quarter is 1.86, whereas price to cash per share for the most recent quarter is 25.58.
Kraft Heinz Co (NASDAQ:KHC)’s values for SMA20, SMA50 and SMA200 are -2.49%, -0.87% and 10.23%, respectively.
The company plans to cut $1.5 billion in annual expenses by the end of 2017.
Pricing increased 1.2% despite deflation in key commodities like dairy and coffee. Net sales in the USA retreated 1.9%.
Adjusted EBITDA increased 17.7% over the same period a year ago to US$2.1bn, despite a 5.4 percentage point impact from currency. Reported net sales increased 160% to US$6.9bn from the US$2.61bn achieved over the same period a year ago.
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The Company gained 0.5% and finished at $86.39. Envestnet Asset Management Inc. boosted its position in Kraft Heinz by 22.6% in the first quarter. Pricing decreased 2.4 percentage points primarily due to an increased level of promotional activity in United Kingdom condiments and sauces versus the prior year period. Strong growth in condiments and sauces across all regions boosted volume/mix growth. Revenue was in line with forecasts, and the firm also announced a 4.3 percent dividend hike. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.70%.
