La vendita allo scoperto per Kraft Heinz dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Kraft Heinz. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Kraft Heinz (NASDAQ:KHC) Azioni, Report sulle vendite allo scoperto

Kraft Heinz

In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind wide-moats PepsiCo and Nestle and the fifth-largest player in the world. Beyond its namesake brands, the combined firm's portfolio includes Oscar Mayer, Velveeta, and Philadelphia. While the retail channel drives around 85% of its total sales, the firm also operates a growing presence in the foodservice arena. Outside North America, Kraft Heinz's global reach counts a distribution network in Europe and emerging markets that drives about 25% of its consolidated sales base, as its products are sold in more than 190 countries and territories.

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The Kraft Heinz Co

KRAFT HEINZ ORD

In the current market session, Kraft Heinz Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) share price is at $34.90, after a 0.29% increase. Moreover, over the past month, the stock decreased by 0.21%, but in the past year, increased by 6.84%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1727448317_0.png" alt="Past Year Chart" />

<h3>Comparing Kraft Heinz P/E Against Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Kraft Heinz has a lower P/E than the aggregate P/E of 34.57 of the Food Products industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1727448317_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Price Over Earnings Overview: Kraft Heinz

Content creators MrBeast, Logan Paul and KSI have teamed up on a new food company called Lunchly that is taking on the well-known<a href="https://www.benzinga.com/markets/equities/23/08/33960652/kraft-heinz-plans-to-offer-lunchables-to-school-cafeterias-sees-multi-billion-opportunity-report"> ready-to-eat Lunchables brand.</a>
What Happened: Food giant Kraft Heinz Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>) may<a href="https://www.benzinga.com/markets/equities/24/01/36680301/this-warren-buffett-favorite-just-made-a-golden-cross-bullish-signals-on-the-horizon"> have trouble ahead</a> for its Lunchables brand with Lunchly now in direct competition.
Lunchly was launched with the "goal of revolutionizing lunch" and providing a focus on quality ingredients, delicious flavors and healthier options for the grab-and-go lunch sector, the creators said.
There are three <a href="https://lunchly.com/">Lunchly </a>meal options at launch: Turkey Stack ‘Ems, Pizza and Fiesta Nachos. Each meal comes with a PRIME hydration drink and a Feastables bar. PRIME was launched in 2022 by Paul and KSI; Feastables was also launched that same year by MrBeast.
Paul said Lunchables has dominated the lunch grab-and-go market for years and Lunchly will provide a "better option" for people looking for convenience and healthy options.
Lunchly products will hit stores later this month. A search on the company's website showed Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) locations as stores that will carry the products.
MrBeast said Lunchly will provide healthier and "better-tasting options.
"Lunchly is all about giving kids a fun, grab-and-go meal that's not just delicious, but also good for them. We're here to change what lunchtime looks like for the next generation," MrBeast, aka Jimmy Donaldson, said.
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Why It's Important: With three of the most widely followed names in content creation and people popular with the younger generation today, Lunchly could present a major challenge to Lunchables.
The news also comes at a bad time for Lunchables, which said in August that it was ready to offer Lunchables in school cafeterias with a potential $25 billion opportunity.
MrBeast is the <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">most followed person </a>on YouTube with 315 million followers. PRIME has been one of the fastest growing beverages since it launched, hitting the <a href="https://www.benzinga.com/trading-ideas/23/11/35711957/logan-paul-ksis-prime-beverage-hits-1-billion-units-sold-should-pepsi-and-coca-cola-be-worried">one billion units sold milestone</a> in November.
Existing distribution deals that Feastables and PRIME have in place could help the company quickly land in retailers globally.
Bad news for Lunchables could also be bad news for billionaire Warren Buffett. Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) owns over 325 million Kraft Heinz shares and more than 25% of the company.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports/23/12/36314531/patrick-mahomes-signs-with-logan-paul-backed-prime-drink-company-why-this-could-be-bad-news-for-co">Patrick Mahomes Signs With Logan Paul-Backed PRIME Drink Company: Why This Could Be Bad News For Coca-Cola And Pepsi</a></li>
</ul>
Photos: MrBeast, Logan Paul, KSI via Shutterstock

Entertainment

MrBeast, Logan Paul, KSI Team Up To Launch Lunchly, Take On Lunchables — And Warren Buffett

Kraft Heinz's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>) short percent of float has risen 4.36% since its last report. The company recently reported that it has 29.51 million shares sold short, which is 3.35% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.56 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Kraft Heinz Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725472811_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Kraft Heinz has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Kraft Heinz's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Kraft Heinz's peer group average for short interest as a percentage of float is 4.20%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(KHC) - Analyzing Kraft Heinz's Short Interest

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.
<h3 class="wp-block-heading">Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)</h3>
<ul>
<li>Dividend Yield: 10.81%</li>
<li>UBS analyst Kevin Caliendo maintained a Neutral rating and cut the price target from $17 to $12 on July 3. This analyst has an accuracy rate of 74%.</li>
<li>RBC Capital analyst Ben Hendrix maintained a Sector Perform rating and slashed the price target from $22 to $13 on July 2. This analyst has an accuracy rate of 76%.</li>
<li>Recent News: On Aug. 19, Walgreens and BARDA announced a strategic partnership to strengthen decentralized clinical trials model and reporting.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://pro.benzinga.com/dashboard">latest WBA news</a></li>
</ul>
<h3 class="wp-block-heading">The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</h3>
<ul>
<li>Dividend Yield: 4.52%</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and raised the price target from $34 to $35 on Aug. 1. This analyst has an accuracy rate of 63%.</li>
<li>Morgan Stanley analyst Pamela Kaufman maintained an Equal-Weight rating and slashed the price target from $39 to $36 on Nov. 2, 2023. This analyst has an accuracy rate of 66%.</li>
<li>Recent News: On July 31, Kraft Heinz reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://pro.benzinga.com/dashboard"> trend in KHC stock.</a></li>
</ul>
<h3 class="wp-block-heading">The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>)</h3>
<ul>
<li>Dividend Yield: 3.77%</li>
<li>DA Davidson analyst Brian Holland maintained a Neutral rating with a price target of $121 on Aug. 29. This analyst has an accuracy rate of 67%.</li>
<li>JP Morgan analyst Ken Goldman maintained a Neutral rating and raised the price target from $126 to $128 on Feb. 28. This analyst has an accuracy rate of 81%.</li>
<li>Recent News: On Aug. 28, The J. M. Smucker Company reported upbeat quarterly earnings, but lowered its annual outlook.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://pro.benzinga.com/dashboard">breakout in SJM shares</a>.</li>
</ul>

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Wall Street's Most Accurate Analysts Say Hold These 3 Defensive Stocks With Over 3% Dividend Yields

During this quarter's earnings cycle, many companies have <a href="https://www.benzinga.com/topic/inflation">warned of cautious consumers due to high and persistent inflation. </a>And it's not just big-ticket items such as cars and furniture on which consumers are cutting back.
J M Smucker Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>), the parent company of Smucker's jelly and jams, warned that people are cutting back spending at convenience stores. Smucker's, which also owns the Jif peanut butter and Uncrustable brands, reported stronger-than-expected EPS in the company's first quarter, but the company's lower guidance and cautious commentary led to a sell-off in shares after the report.
Shares closed Wednesday's session down nearly 5%; on Thursday, shares were down 1.30% at $113.32 at publication.
See Also: <a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins">Dollar General Q2 Earnings: Earnings Miss, Slashed Outlook And Shrinking Margins </a><a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins"> </a>Analysts adjusted their expectations on the packaged-food giant, with CitiGroup, BofA Securities and TD Cowen all lowering their price targets following the report. The company did highlight significant, double-digit growth in its Uncrustable brand, a packaged peanut butter and jelly sandwich found in the frozen section of grocery stores. But, in other areas such as coffee, executives at Smucker's highlighted higher input costs caused the company to raise prices, thus weakening sales.
If consumers continue to cut back on spending at convenience stores and on brand-name products, it could be a headwind for other food companies such as Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) and General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>). Thursday morning, Dollar General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins">reported earnings</a> that came in below Wall Street estimates and warned of a &#8220;cash-strapped&#8221; customer, echoing the sentiment from Smucker's.
Price consumption expenditures data, the Federal Reserve's preferred gauge of inflation, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40624107/traders-brace-for-feds-favorite-inflation-report-friday-july-price-pressures-expect">will be released Friday morning and should shed more light on whether prices are rising or cooling. </a>Read Next: <a href="https://www.benzinga.com/news/earnings/24/08/40602246/j-m-smucker-cuts-fy25-outlook-following-q1-earnings-read-why">J.M. Smucker Cuts FY25 Outlook Following Q1 Earnings: Read Why</a>
Photo: Shutterstock

Equities

Economics

General

MDLZ

Inflation Is Eating Into Sales Of Companies Across The Board, Even This Household Food Name

The tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), closed Thursday 2.5% higher, notching its sixth consecutive positive session and marking a strong rebound after the index had entered correction territory due to <a href="https://www.benzinga.com/markets/equities/24/08/40135090/old-school-summer-risk-off-vix-up-over-50-nasdaq-100-enters-correction-chipmakers-officially-in-">the early-month selloff.</a>
With a 9% rally over the last six sessions, this marks the best six-day run since November 2022, signaling that bullish sentiment remains alive among traders who jumped at the opportunity to buy tech stocks on the dip.
From a technical perspective, Thursday's session represents a significant checkpoint for the Nasdaq 100, as the index climbed back above its 50-day moving average after dropping below it on July 24.
<h3 class="wp-block-heading">Chart: Tech Stocks Break Above 50-Day Average, Notch Strongest 6-Day Rally In Nearly Two Years</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15160901/image-122-1024x458.png" alt="" class="wp-image-497713" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15160901/image-122-1024x458.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15160901/image-122-300x134.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15160901/image-122-768x344.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15160901/image-122-1536x687.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15160901/image-122.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081524&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
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Within tech industries, semiconductor stocks saw the most significant gains, with the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) up 16% over the last six sessions, also marking its strongest streak since late 2022.
The easing of recession fears that surfaced earlier this month has been the primary catalyst driving the recovery in the stock markets, particularly in tech stocks, which were among the hardest hit at the start of the month.
The U.S. economy hasn&#8217;t appeared as sluggish as some early August economic data suggested—especially the disappointing July jobs report.
Initial jobless claims have unexpectedly declined over the past two weeks, casting reasonable doubt on whether the July increase in the unemployment rate from 4.1% to 4.3% was merely a temporary anomaly rather than a sign of deeper labor market issues.
Retail sales also sharply exceeded expectations in July, showing a robust 1% month-over-month increase—the fastest pace since January 2023. Not exactly what you would expect from an economy on the brink of a recession.
<h3 class="wp-block-heading">Top Five Performing Nasdaq 100 Stocks On Thursday</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>% Return</td>
</tr>
<tr>
<td>Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>)</td>
<td>8.71</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>8.59</td>
</tr>
<tr>
<td>Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>)</td>
<td>6.78</td>
</tr>
<tr>
<td>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</td>
<td>6.76</td>
</tr>
<tr>
<td>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>)</td>
<td>6.68</td>
</tr>
</tbody>
</table>
</figure>
Worst Five Performing Nasdaq 100 Stocks On Thursday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>% Return</td>
</tr>
<tr>
<td>Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</td>
<td>-1.32</td>
</tr>
<tr>
<td>O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>)</td>
<td>-1.24</td>
</tr>
<tr>
<td>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)</td>
<td>-0.96</td>
</tr>
<tr>
<td>Verisk Analytics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSK#NASDAQ">VRSK</a>)</td>
<td>-0.90</td>
</tr>
<tr>
<td>The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</td>
<td>-0.88</td>
</tr>
</tbody>
</table>
</figure>
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Photo: Shutterstock

Large Cap

Macro Economic Events

Broad U.S. Equity ETFs

Retail Sales

Econ #s

Tech

ETFs

CSCO

LULU

MRVL

ORLY

SMCI

TMUS

VRSK

Nasdaq 100 Sees Best 6-Day Rally Since Late 2022 As Traders Ride Bull Market Wave: Tech Stocks On The Move Thursday

Goldman Sachs analyst Leah Jordan initiated coverage of the packaged food sector. The analyst writes that growth in the sector has slowed following the Covid demand surge and inflation, but some companies are undervalued near historic lows.
The analyst expects food-at-home spending to grow at a low-single-digit rate, supported by both volume and pricing due to strong consumer cash flow.
Jordan initiated coverage on ConAgra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a <a target="_blank" href="https://www.benzinga.com/quote/Cag/analyst-ratings" rel="noreferrer noopener">Buy rating and price target of $36</a>.
The analyst views CAG favorably due to its strong frozen and snack portfolio aligned with convenience trends, offering better-than-expected results and the highest free cash flow yield in the coverage. The company&#8217;s transformation, including the Pinnacle Foods acquisition and process overhaul, has been underappreciated by investors, particularly given the Covid-related market shifts, writes the analyst.
For FY25-27, the analyst estimates EPS of $2.67, $2.78, and $2.89 vs. the consensus (FactSet) of $2.61, $2.70, and $2.82, respectively, reflecting a more optimistic outlook on volume and mix trends.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39728345/conagra-falls-short-on-q4-revenue-amid-unfavorable-price-mix" rel="noreferrer noopener">ConAgra Falls Short On Q4 Revenue Amid Unfavorable Price Mix</a>
The analyst initiated coverage on General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), with a Buy rating <a target="_blank" href="https://www.benzinga.com/quote/gis/analyst-ratings" rel="noreferrer noopener">and price target of $76</a>.
GIS&#8217; diverse portfolio aligns with current trends, has less private label risk than feared, and demonstrates stronger margins compared to peers, writes the analyst. The analyst forecasts stable gross margins for GIS, with gradual improvement supported by moderating input cost inflation and ongoing productivity gains.
For FY25-27, Jordan projects EPS of $4.55, $4.75, and $4.95, compared to the consensus (FactSet) of $4.50, $4.73, and $4.94, respectively.
Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/06/39501521/pillsbury-maker-general-mills-annual-profit-outlook-disappoints-stock-falls" rel="noreferrer noopener">Pillsbury Maker General Mills Annual Profit Outlook Disappoints, Stock Falls</a>
Jordan initiated coverage on Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) with a Neutral rating <a target="_blank" href="https://www.benzinga.com/quote/k/analyst-ratings" rel="noreferrer noopener">and a price target of $75</a>.
The spin-off of its North American cereal business has enhanced growth and margins. While strong earnings are expected from its brand strength and emerging market exposure, takeover speculation has dampened investor sentiment, says the analyst.
For FY24-26, Jordan estimates EPS of $3.80, $3.97, and $4.21 compared to the consensus (FactSet) of $3.70, $3.89, and $4.10, respectively.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40152783/cheez-it-and-pringles-maker-kellanova-acquisition-eyed-by-snickers-fame-mars-report" rel="noreferrer noopener">Cheez-It And Pringles Maker Kellanova Acquisition Eyed By Snickers-Fame Mars: Report</a>
Moreover, the analyst started coverage of Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) with a Buy rating and a $80 price target.
The analyst writes that MDLZ is seen as a high-quality investment with strong growth potential, driven by organic opportunities and emerging market exposure. Recent stock underperformance has been linked to market share losses and higher U.S. biscuit pricing pressures, but trends are improving, and the company is actively addressing these challenges.
For FY24-26, EPS estimates were $3.52/$3.70/$3.95 above the consensus (FactSet) of $3.50/$3.67/$3.94.
Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40078219/mondelez-analysts-boost-their-forecasts-after-upbeat-earnings" rel="noreferrer noopener">Mondelez Analysts Boost Their Forecasts After Upbeat Earnings</a>
On the other hand, the analyst started coverage on The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Sell rating <a target="_blank" href="https://www.benzinga.com/quote/hsy/analyst-ratings" rel="noreferrer noopener">and a price target of $185</a>.
The analyst sees risks of estimate revisions and valuation compression for HSY due to ongoing market share losses to both private label and premium products, a potential slowdown in impulse spending, and fewer holiday shopping days. However, the analyst writes that HSY&#8217;s strong portfolio of industry-leading sweet and salty brands positions it well in the long term.
For FY24-26, the analyst anticipates EPS of $9.39/$9.10/$9.86 below the consensus (FactSet) of $9.54/$9.52/$10.29, reflecting a weaker demand and margin outlook for confectionery business, market share losses, and expected higher promotional activity and input costs.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40099246/hershey-shares-melt-q2-earnings-and-sales-miss-targets-amid-consumer-spending-slump" rel="noreferrer noopener">Hershey Shares Melt: Q2 Earnings And Sales Miss Targets Amid Consumer Spending Slump</a>
Also, the analyst initiated coverage of The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a <a href="https://www.benzinga.com/quote/khc/analyst-ratings">Sell rating and price target of $34.</a>
The analyst says that KHC&#8217;s turnaround is likely to be slower and more challenging than expected due to high private label risks and mixed brand positioning. The company faces the task of reinvesting in its assets and brands after past cost-cutting damaged core assets, adds the analyst.
For FY24-26, the analyst estimates EPS of $2.97, $3.04, and $3.20, below the consensus (FactSet) of $3.03, $3.18, and $3.35, due to a weaker North American outlook, increased promotional pressure from high private label risk, and prior underinvestment.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40110709/analysts-remain-bullish-on-kraft-heinz-despite-sales-decline-cost-efficiencies-and-" rel="noreferrer noopener">Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by Melissa from Pixabay
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Analyst Color

Mid Cap

Initiation

Packaged Food Sector To See Mixed Performance Amid Economic Headwinds: Goldman Sachs

WIIM

Kraft Heinz shares are trading lower after Goldman Sachs initiated coverage on the stock with a Sell rating and announced a price target of $34.

Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) underwent analysis by 10 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $37.2, with a high estimate of $42.00 and a low estimate of $34.00. A decline of 2.75% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1723482070_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Kraft Heinz among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Leah Jordan</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Sell</td>
<td>$34.00</td>
<td>-</td>
</tr>
<tr>
<td>Andrew Lazar</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$36.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Stephen Powers</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$40.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Chris Carey</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$35.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Andrew Lazar</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$34.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Thomas Palmer</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$38.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Bryan Spillane</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$38.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Chris Carey</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$34.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Michael Lavery</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$41.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Michael Lavery</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$42.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Kraft Heinz. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Kraft Heinz compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Kraft Heinz's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Kraft Heinz's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/KHC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kraft Heinz analyst ratings.</a>
<h2>Get to Know Kraft Heinz Better</h2>
In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth-largest player in the world. Beyond its namesake brands, the combined firm's portfolio includes Oscar Mayer, Velveeta, and Philadelphia. While the retail channel drives around 85% of its total sales, the firm also operates a growing presence in the foodservice arena. Outside North America, Kraft Heinz's global reach counts a distribution network in Europe and emerging markets that drives about 25% of its consolidated sales base, as its products are sold in more than 190 countries and territories.
<h3>Financial Milestones: Kraft Heinz's Journey</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Negative Revenue Trend: Examining Kraft Heinz's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -3.65% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: Kraft Heinz's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 1.57%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Kraft Heinz's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 0.21%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Kraft Heinz's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.11%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Kraft Heinz's debt-to-equity ratio is below the industry average. With a ratio of 0.41, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 10 Analyst Evaluations For Kraft Heinz

Goldman Sachs analyst Leah Jordan initiates coverage on Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a Sell rating and announces Price Target of $34.

Goldman Sachs Initiates Coverage On Kraft Heinz with Sell Rating, Announces Price Target of $34

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout.</a>
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.
<h3 class="wp-block-heading">Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>)</h3>
<ul>
<li>Dividend Yield: 7.84%</li>
<li>B of A Securities analyst Lisa Lewandowski maintained a Neutral rating and raised the price target from $47 to $48 on July 10. This analyst has an accuracy rate of 61%.</li>
<li>Morgan Stanley analyst Pamela Kaufman reiterated an Equal-Weight rating with a price target of $45 on July 18, 2023. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: On July 31, Altria Group reported worse-than-expected second-quarter financial results.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"> latest MO news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="891" height="833" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24.png" alt="" class="wp-image-484013" style="width:565px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24.png 891w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24-768x718.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></a></figure>
<h3 class="wp-block-heading">Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>)</h3>
<ul>
<li>Dividend Yield: 4.70%</li>
<li>Evercore ISI Group analyst David Palmermaintained a Neutral rating and lowered the price target from $32 to $31 on July 12. This analyst has an accuracy rate of 62%.</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $32 to $31 on July 10. This analyst has an accuracy rate of 65%.</li>
<li>Recent News: On July 11, Conagra Brands reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted EPS guidance below estimates.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1">trend in CAG stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="833" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46.png" alt="" class="wp-image-484017" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46-300x274.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46-768x701.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</h3>
<ul>
<li>Dividend Yield: 4.61%</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and raised the price target from $34 to $35 on Aug. 1. This analyst has an accuracy rate of 65%.</li>
<li>B of A Securities analyst Bryan Spillane maintained a Buy rating and cut the price target of $42 to $38 on July 10. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: On July 31, Kraft Heinz reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1">breakout in KHC shares.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="870" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47.png" alt="" class="wp-image-484020" style="width:468px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47.png 870w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47-300x292.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47-768x748.png 768w" sizes="(max-width: 870px) 100vw, 870px" /></a></figure>
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Wall Street's Most Accurate Analysts Give Their Take On 3 Defensive Stocks Delivering High-Dividend Yields

The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) reported better-than-expected second-quarter adjusted <a href="https://www.benzinga.com/news/earnings/24/07/40069129/kraft-heinz-q2-earnings-revenue-declines-ceo-stresses-efficiency-amid-consumer-caution">EPS results on Wednesday.</a>
Kraft Heinz reported a second-quarter FY24 sales decline of 3.6% year-on-year to $6.48 billion, missing the analyst consensus estimate of $6.55 billion. Sales in North America declined 3.1% Y/Y, and International Developed Markets dropped 5%. Organic net sales slipped 2.4%.
Adjusted EPS of 78 cents beat the analyst consensus of 74 cents.
"Our second quarter net sales growth came in lower than originally anticipated, as consumer sentiment remains cautious," said CEO Carlos Abrams-Rivera. "While we are now expecting a more gradual top-line improvement in the back half of the year, we continue to unlock efficiencies that are allowing us to make accretive investments in our brands, grow profits, and drive future sales growth."
Kraft Heinz expects FY24 adjusted EPS of $3.01 – $3.07, which is the same as prior expectations and against the estimate of $3.01. The company sees FY24 organic net sales to be down 2% to flat versus the prior year, compared to the previous expectation of 0% to 2% growth.
Kraft Heinz shares fell 0.3% to trade at $35.10 on Thursday.
These analysts made changes to their price targets on Kraft Heinz following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59a574bdca17380001c65867/chris-carey">Wells Fargo analyst Chris Carey</a> maintained Kraft Heinz with an Equal-Weight rating and raised the price target from $34 to $35.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/584eee82ee7bf60001abdc0e/stephen-powers">Deutsche Bank analyst Stephen Powers</a> maintained Kraft Heinz with a Buy and raised the price target from $39 to $40.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/598858a9803ad30001474c4b/andrew-lazar">Barclays analyst Andrew Lazar</a> maintained Kraft Heinz with an Equal-Weight rating and boosted the price target from $34 to $36.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40101200/top-3-health-care-stocks-that-are-set-to-fly-this-quarter">Top 3 Health Care Stocks That Are Set To Fly This Quarter</a></li>
</ul>

Earnings

These Analysts Boost Their Forecasts On Kraft Heinz After Upbeat Earnings

BofA Securities analyst Bryan D. Spillane reiterated the Buy rating on The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), raising the price forecast to $40 from $38.
Yesterday, the company reported a second-quarter FY24 sales decline of 3.6% year-on-year to $6.48 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40063540/kraft-heinz-reports-second-quarter-2024-results" rel="noreferrer noopener">missing the analyst consensus estimate of $6.55 billion.</a>
Sales in North America declined 3.1% Y/Y, and International Developed Markets dropped 5%. <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40069129/kraft-heinz-q2-earnings-revenue-declines-ceo-stresses-efficiency-amid-consumer-caution" rel="noreferrer noopener">Organic net sales slipped 2.4%.</a>
Spillane highlights that total company price contribution for the year is now expected to be flat to slightly positive, while sequential volume improvement in the second half, though not back to positive, is expected.
The analyst models FY24 -1.5% organic sales growth (-2.5% volume and +1% price). Spillane also raised the FY24 EPS estimate to $3.00 from $2.90 and maintained FY25-26 EPS of $3.04 and $3.21.
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Stifel analyst Matthew E. Smith reiterated the Buy rating on Kraft Heinz with a price forecast of $40.
The lower topline outlook is not surprising given the weaker consumption environment while greater cost efficiencies limit the profit impact and support greater investments to improve revenue growth, the analyst writes.
Smith now estimates a 1% organic sales decline for the year (versus +0.5% previously), over 2.5% operating profit growth (+3% previously), and EPS growth of 2% to $3.04 (inline with previous expectation).
The analyst expects 40bps of expansion in the second half driven by productivity programs as the company laps the benefit of initiatives that began in the second half of 2023.
Piper Sandler analyst Michael S. Lavery reiterated the Overweight rating with a price forecast of $41.
According to the analyst, Foodservice initiatives can be a catalyst, but not until 2025. KHC upgraded its &#8216;Keystone&#8217; counter-top sauce dispensers for restaurants. KHC expects it to drive new, incremental customers as well as replacements from existing customers.
Foodservice growth is slow at the moment (+1.5% excluding planned product exits and its 2Q24 plant closure), but historically has outperformed food at home, the analyst adds.
The analyst also projects that Heinz Sauce Wand (launching in 2025) will drive meaningful incremental revenues.
Other initiatives like sauce taps and its Remix machines can potentially be additive as well. Lavery raised 2024 EPS from $2.95 to $3.01 and 2025 from $3.14 to $3.20.
Price Action: KHC shares are trading lower by 0.27% to $35.12 at last check Thursday.
Photo by ImipolexG via Flickr
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Reiteration

Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism

Barclays analyst Andrew Lazar maintains Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a Equal-Weight and raises the price target from $34 to $36.

Barclays Maintains Equal-Weight on Kraft Heinz, Raises Price Target to $36

Deutsche Bank analyst Stephen Powers maintains Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a Buy and raises the price target from $39 to $40.

Deutsche Bank Maintains Buy on Kraft Heinz, Raises Price Target to $40

Wells Fargo analyst Chris Carey maintains Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a Equal-Weight and raises the price target from $34 to $35.

Wells Fargo Maintains Equal-Weight on Kraft Heinz, Raises Price Target to $35

Tech stocks soared to their best session in five months on Wednesday, ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting. This broad tech rally was propelled by a sharp rebound in chipmakers, buoyed by robust corporate earnings and easing concerns over chip<a href="https://www.benzinga.com/markets/equities/24/07/40075799/semiconductor-stocks-set-for-strongest-day-in-5-months-as-chip-export-concerns-subside-top-wedne"> export restrictions to China.</a>
The Federal Reserve is expected to maintain interest rates at 5.25-5.50%, but market attention is fixed on Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, for any hints of a potential rate cut in September, which market participants have fully priced in.
The Nasdaq 100 surged 2.7%, with 87 of its constituents in positive territory, led by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which jumped 11%. The tech-heavy index hasn&#8217;t experienced such a rally since February 2024.
The Biden administration is planning to introduce new regulations next month to restrict the export of semiconductor manufacturing equipment to Chinese chipmakers, with key allies like Japan, the Netherlands, and South Korea being exempt, according to Reuters. 
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) soared over 5%, also marking its strongest session since late February 2024.
The S&amp;P 500 also posted solid gains, rising 1.6%. Small caps, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), increased by 1.1%, eyeing their highest close since January 2022. Blue chips climbed 0.7%.
The dollar eased 0.2%, weighed down by a disappointing July private employment report released earlier by the ADP. The Japanese yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), rallied 1.4% following an overnight rate hike by the Bank of Japan.
In commodities, gold rose 0.7%, surpassing $2,400 per ounce, and silver climbed 1.4%. Oil prices surged 3% amid escalating geopolitical tensions in the Middle East following the assassination of Hamas chief Ismail Haniyeh by Israeli forces in Iran.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.3%.
<h3 class="wp-block-heading">Wednesday&#8217;s Movers In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,306.28</td>
<td>2.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,523.20</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,267.02</td>
<td>1.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,030.77</td>
<td>0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.6% higher to $550.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $410.22.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 2.6% to $469.60.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $224.09.</li>
<li>Sector-wise, the Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, rallying 3.4%, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, up 0.1%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), up 4%.</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), down 3.8%,</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) up over 9%,</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) up 8.2%,</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) up 1.5%,</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) up 0.4%,</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), up 5.1%,</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) up over 12%,</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) down about 1%,</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) up 5.3%, </li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) up 1.8%,</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) down 4.5%,</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) down 4.6%, </li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) down 2.3%,</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) down 8.8%,</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) up 3.5%, </li>
<li>Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) up 4.3%,</li>
<li>Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) up 2.1%, </li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) down 1%, </li>
<li>Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) (down over 2.50%)</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down 1.8%</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) down 2.8%,</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) down 3.1%,</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) down over 12%</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) up over 4%, </li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) up over 8%,</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) up 2.5%,</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) down 1.5%.</li>
</ul>
Stocks reporting after the close include: 
<ul>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</li>
<li>American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>)</li>
<li>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</li>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>)</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>)</li>
<li>Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>).</li>
</ul>
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Tech Stocks On Track For Best Session In 5 Months Ahead Of Fed Meeting; Small Caps Target Highest Close Since January 2022: What's Driving Markets Wednesday?

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 200 points on Wednesday.
The Dow traded up 0.54% to 40,964.19 while the NASDAQ rose 2.53% to 17,581.11. The S&amp;P 500 also rose, gaining, 1.64% to 5,525.69.
Leading and Lagging Sectors Information technology shares rose by 3.5% on Wednesday.
In trading on Wednesday, health care shares fell by 0.1%.
Top Headline The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) shares gained around 4% on Wednesday after the company reported better-than-expected&nbsp;second-quarter&nbsp;adjusted EPS results.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>noco-noco Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) shares shot up 72% to $0.2638.</li>
<li>Shares of Primech Holdings Ltd &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMEC#NASDAQ">PMEC</a>) got a boost, surging 62% to $0.8531 &nbsp;after gaining over&nbsp;5%&nbsp;on Tuesday.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) shares were also up, gaining 64% to $6.05 after gaining around&nbsp;3%&nbsp;on Tuesday.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares dropped 57% to $1.4301 after the company announced a&nbsp;$10 million&nbsp;registered direct offering of 5 million&nbsp; shares of common stock with unregistered warrants at a price of&nbsp;$2&nbsp;per unit.</li>
<li>Shares of FibroGen, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) were down 46% to $0.5534. &nbsp;The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>) was down, falling 44% to $9.54. &nbsp;The company announced clinical data from the first dose cohort of PGN-EDO51.</li>
</ul>
Commodities In commodity news, oil traded up 3.8% to $77.56 while gold traded up 0.7% at $2,468.20.
Silver traded up 1.5% to $28.955 on Wednesday, while copper rose 2.5% to $4.1865.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.8%, Germany's DAX rose 0.53% and France's CAC 40 gained 0.76%. Spain's IBEX 35 Index fell 1.23%, while London's FTSE 100 rose 1.13%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.49%, Hong Kong's Hang Seng Index jumping 2.01% and S&amp;P BSE Sensex gaining 0.35%.
Economics
<ul>
<li>U.S. pending home sales rose by 4.8% from the prior month in June compared to a revised contraction of 1.9%.</li>
<li>U.S. crude oil inventories declined by 3.436 million barrels in the week ended July 26th, above market estimates of a 1.6 million barrel draw.</li>
<li>Private businesses in the U.S. added 122,000 workers to their payrolls in July, versus a revised 155,000 in June.</li>
</ul>
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Dow Jumps Over 200 Points; Kraft Heinz Shares Gain After Q2 Earnings

The Kraft Heinz Company shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) reported a second-quarter FY24 sales decline of 3.6% year-on-year to $6.48 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40063540/kraft-heinz-reports-second-quarter-2024-results" rel="noreferrer noopener">missing the analyst consensus estimate of $6.55 billion.</a>
Sales in North America declined 3.1% Y/Y, and International Developed Markets dropped 5%. Organic net sales slipped 2.4%.
Gross profit increased by 1.5% Y/Y to $2.29 billion, with the margin expanding 180 points to 35.4%.
Operating margin for the quarter was 8.1%, and the operating income decreased 62.1% to $522 million.
Selling, general and administrative expenses, excluding impairment losses, rose 3.7% to $918 million. Adjusted EPS of $0.78 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the analyst consensus of $0.74.</a>
Kraft Heinz held $902 million in cash and equivalents as of June 29. Operating cash flow for year-to-date totaled $1.7 billion, with a free cash flow of $1.2 billion.
As of June-end, the company had remaining authorization to repurchase $2.4 billion of common stock under the publicly announced share repurchase program.&nbsp;
&#8220;Our second quarter net sales growth came in lower than originally anticipated, as consumer sentiment remains cautious,&#8221; said CEO Carlos Abrams-Rivera.
Abrams-Rivera continued, &#8220;While we are now expecting a more gradual top-line improvement in the back half of the year, we continue to unlock efficiencies that are allowing us to make accretive investments in our brands, grow profits, and drive future sales growth.&#8221;
Kraft Heinz&nbsp;declared a regular quarterly dividend of&nbsp;$0.40&nbsp;per share of common stock payable on Sept. 27 to stockholders <a target="_blank" href="https://www.benzinga.com//node/40063645" rel="noreferrer noopener">of record as of Aug. 30.</a>
Outlook: Kraft Heinz expects FY24 adjusted EPS of $3.01 – $3.07, which is the same as prior expectations <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">and against the estimate of $3.01.</a>
The company sees FY24 organic net sales to be down&nbsp;2% to flat versus the prior year, compared to the previous expectation of 0% to&nbsp;2%&nbsp;growth.
Price Action: KHC shares are trading higher by 2.54% at $34.70 in premarket at the last check Wednesday.
Photo by ImipolexG via Flickr

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