Special Dividend of $0.50 Planned by Kraft Foods (KRFT)
Kraft Foods (NASDAQ:KRFT) declared a special dividend on Tuesday, December 11th. Investors of record on Monday, December 31st will be given a dividend of $0.50 per share on Monday, January 14th. The ex-dividend date of this dividend is Thursday, December 27th.
A number of research firms have also recently commented on KRFT. Analysts at Zacks reiterated a “neutral” rating on shares of Kraft Foods in a research note to investors on Tuesday, November 27th. They now have a $47.00 price target on the stock. On the ratings front, analysts at Canaccord Genuity initiated coverage on shares of Kraft Foods in a research note to investors on Tuesday, November 6th. They set a “buy” rating and a $50.00 price target on the stock. Finally, analysts at Argus initiated coverage on shares of Kraft Foods in a research note to investors on Friday, October 19th. They set a “hold” rating on the stock.
Shares of Kraft Foods (KRFT) traded up 1.15% during mid-day trading on Tuesday, hitting $44.83. Kraft Foods (KRFT) has a 52 week low of $42.00 and a 52 week high of $48.00. The company has a market cap of $26.558 billion and a P/E ratio of 13.53.
Kraft Foods last released its earnings data on Wednesday, November 7th. The company reported $0.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.10. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.56 billion. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Kraft Foods (KRFT) will post $2.83 earnings per share 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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