Kraft Heinz raises annual sales forecast on higher prices
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July 27, 2022 4:28 PM EDT
Goldman Sachs analyst Jason English upgraded Kraft Heinz Company (NASDAQ: KHC) from Sell to Neutral with a price target of $37.00.
The analyst comments "KHC reported a roughly in-line quarter with organic sales beating while gross margins missed, as has been the common pattern in Food this quarter. As a result, it raised its full year sales outlook, while keeping EBITDA... More
July 27, 2022 1:36 PM EDT
Kraft Heinz (NASDAQ: KHC) shares are down Wednesday after it reported earnings for its latest quarter before the open.
Despite topping estimates, posting second-quarter earnings of $0.70 per share, $0.02 better than the analyst estimate of $0.68, its shares have tumbled more than 7%. Revenue for the quarter also beat estimates, coming in at $6.6 billion versus the $6.38 billion expected.
However, EBITDA of $1.52 billion... More
