(KHC)
Kraft Heinz isn’t slowing down when it comes to innovation. Their latest project is a partnership with IHOP to launch two new pancake-inspired syrups in Original and Butter Pecan flavors. These syrups aim to bring the beloved taste of IHOP breakfasts to kitchens nationwide, and they’re free from high-fructose corn syrup.
Priced at $3.98, these syrups are part of Kraft Heinz's Taste Elevation platform, which focuses on boosting flavors. This move follows a successful collaboration between Kraft Heinz and IHOP on coffee blends and aims to shake up the syrup aisle, which hasn’t seen much innovation in over 60 years. These syrups are designed to give consumers an easy way to enjoy IHOP's signature flavors at home.
In a big step towards sustainability, Kraft Heinz has teamed up with Plastipak to use 100% food-grade recycled PET (rPET) containers for its Real Mayo and Miracle Whip brands. This change is expected to cut down around 6,350 tons of virgin plastic from production, significantly reducing the company’s packaging-related carbon emissions. Plastipak, which recycled over 11 billion bottles in 2023, runs five global recycling centers and has boosted its recycling capacity by more than 15%. This initiative is part of Kraft Heinz's larger commitment to sustainable packaging.
Kingsview Wealth Management LLC recently upped its stake in Kraft Heinz by 11.1% during the first quarter of 2024, now holding 17,470 shares worth around $645,000. This shift reflects broader institutional investor trends, with 78.17% of Kraft Heinz's stock held by institutions. Companies that have a large amount of stock held by institutions demonstrate stability and investors confidence in the company. The company’s stock was recently trading at $33.12, giving it a market cap of $40.22 billion. They also maintain a dividend yield of 4.83%, although analysts have mixed opinions on the stock, with an average rating of "Moderate Buy" and a consensus price target of $38.83.
Wall Street is keeping a close eye on Kraft Heinz as the company gears up to share its quarterly earnings report on July 31, 2024. Analysts are predicting earnings of $0.73 per share, which would be a 7.6% drop from last year, along with revenues of $6.54 billion, down 2.7%. Even with these lower expectations, some analysts are feeling optimistic thanks to a positive Expected Surprise Prediction (ESP) of +0.25%. That said, the stock has a Zacks Rank of #4 (Sell), leaving it a bit uncertain whether Kraft Heinz will hit or beat those expectations this quarter. On the bright side, Kraft Heinz has a solid track record of surpassing earnings estimates, consistently doing so over the last four quarters.
Kraft Heinz is navigating a landscape with a mix of exciting product launches, strategic sustainability efforts, and fluctuating market performance. As the company prepares to unveil its quarterly earnings report, stakeholders will be watching closely to see how all these factors play into the stock’s performance. Whether you’re a food lover, a health-conscious consumer, or an investor, Kraft Heinz's latest moves are worth keeping an eye on. Don’t forget to check out their upcoming earnings report on July 31, 2024, to see how they stack up against market expectations.
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