Kraft Heinz Posts Strong Quarter, Raises Sales Forecast

The stock is just off its recent peak

Laura McCandless

Deputy Editor

Apr 27, 2022 at 10:17 AM

Ahead of the market's open, Kraft Heinz Co (NASDAQ:KHC) reported first-quarter earnings of 60 cents per share on revenue of $6.05 billion, beating analysts' estimates of 53 cents per share on $5.83 billion. The food company raised its full-year sales forecast as well, citing organic sales growth, higher prices, and strong demand for its packaged meals and condiments.

KHC is brushing off the positive results, however, down 0.8% at $41.97 at last check. The stock has fallen slightly since rallying to its April 21 roughly 11-month peak of $44.48, but the $42 level looks like it could be emerging as support. Year-to-date, Kraft Heinz stock is up 17.3%.

Analysts have yet to respond to the earnings event, though there is plenty of room for optimism. Of the 10 analysts in coverage, eight carry a lukewarm "hold" rating. Plus, the 12-month consensus price target of $40.99 is a 2.4% discount to current levels.

Follow @Schaeffers

Are You Ready for AI's Potential Supercycle Phase?
Amazon's Jeff Bezos surprised investors when he revealed that one emerging technology is the key to Amazon's future success... This technology could be worth $80 trillion by 2030. Learn more and join Motley Fool's Stock Advisor for 50% off!

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.