Kraft Foods (KRFT) Plans Quarterly Dividend of $0.50
Kraft Foods (NASDAQ:KRFT) announced a quarterly dividend on Tuesday, March 5th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.50 per share on Friday, April 12th. This represents a $2.00 annualized dividend and a dividend yield of 4.07%.
Several analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Kraft Foods in a research note to investors on Thursday, February 21st. They now have a $50.00 price target on the stock. Analysts at BMO Capital Markets raised their price target on shares of Kraft Foods to $53.00 in a research note to investors on Tuesday, February 19th. They now have an “outperform” rating on the stock.
Eleven equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, and nine have issued a hold rating to the company. Kraft Foods currently has an average rating of “overweight” and a consensus price target of $49.61.
Shares of Kraft Foods (KRFT) traded up 0.08% during mid-day trading on Tuesday, hitting $49.19. Kraft Foods (KRFT) has a 52 week low of $42.00 and a 52 week high of $49.17. The stock’s 50-day moving average is currently $47.11. The company has a market cap of $29.219 billion and a P/E ratio of 17.87.
Kraft Foods last released its earnings data on Friday, February 15th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.09. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.75 billion. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. Kraft Foods has set its FY13 guidance at ~$2.60 EPS. Analysts expect that Kraft Foods (KRFT) will post $2.75 EPS for the current fiscal year.
Kraft Foods Group, Inc. (Kraft Foods Group) operates food and beverage businesses in North America. The Company manufactures and markets food and beverage products, including convenient meals, refreshment beverages and coffee, cheese and other grocery products, in the United States and Canada, under a stable of iconic brands.
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