Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism
KHCKraft Heinz(KHC) Benzinga·2024-08-02 02:03

BofA Securities analyst Bryan D. Spillane reiterated the Buy rating on The Kraft Heinz Company KHC, raising the price forecast to 40from40 from 38.Yesterday, the company reported a second-quarter FY24 sales decline of 3.6% year-on-year to 6.48billion, missingtheanalystconsensusestimateof6.48 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%.Spillane highlights that total company price contribution for the year is now expecte ...