Movement Alert|The Kraft Heinz Company Rises 5.11% in Regular Trading, Disney Strategic Alliance Continues to Drive Shares Higher

Market Focus07-28

On July 28, The Kraft Heinz Company rose 5.11% in regular trading, trading at $27.465/share, with turnover of $196 million. The stock continues to rally on the back of a multi-year strategic alliance with Walt Disney Company announced on July 21.

Under the agreement, ten Kraft Heinz brands — including Heinz, Philadelphia Cream Cheese, and Kraft Mac & Cheese — will become the exclusive supplier at hundreds of dining locations across Disney's North American theme parks, resorts, and cruise lines. The partnership also grants Kraft Heinz the right to use Disney character imagery on select products, spanning food service, media, events, and brand experiences.

Adding to the positive momentum, Jefferies recently raised its price target on The Kraft Heinz Company to $24 from $21 while maintaining a Hold rating. Multiple other banks have also lifted targets in recent weeks, including Wells Fargo to $25, UBS to $25, and BofA Securities to $23. The analyst consensus mean target stands at approximately $23.13 with an average Hold rating. The company is scheduled to report next quarter earnings on August 5, with consensus EPS expectations of $0.53.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment