Analyst Consensus ?
ConsensusHold35 ratings
Bullish411.4%
Neutral2057.2%
Bearish1131.4%
The Kraft Heinz Company · KHC · FY2025 Q4 · Calendar Q1 2026
Kraft Heinz Prioritizes Turnaround Over Spin-Off
Kraft Heinz's current analysis supports a turnaround thesis based on focused investment, early market-share gains and disciplined leverage reduction, but it does not yet establish durable earnings growth. The case depends on execution, consumer demand and progress toward the stated 2027 organic-growth objective.
Reported Before market openNYSEConsumer Defensive
$27.81B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.67
Consensus $0.61
EPS surprise
+9.8%
Reported versus consensus
Reported revenue
$6.35B
Consensus $6.37B
Revenue surprise
-0.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.4%
Event window
SPY move
-0.0%
Same window
Abnormal move
+0.4%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
-10.6%
Up to 20 sessions
KHCSPY benchmark
Ask FN2 about KHC FY2025 Q4
Transcript, numbers and history already loaded
Why did KHC rise 0.4% after beating EPS estimates in FY2025 Q4?What changed in KHC's guidance and outlook in FY2025 Q4?Give me the bull and bear case for KHC after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management paused the planned spin-off and shifted full attention to the turnaround, including a $600 million incremental investment plan. Compared with the prior analysis, the emphasis moved from preparing for separation and additional promotion toward concentrated brand, pricing, packaging and commercial investment, while SNAP exposure became a clearer demand headwind.
Guidance delta
Guidance sentiment was maintained. Management continued to target a return to organic growth by 2027 while ramping investment in 2025.
Key takeaways
- Management paused the planned separation to concentrate resources on the turnaround.
- The company is deploying $600 million of incremental investment, split roughly between price, product and packaging initiatives and commercial execution.
- Early market-share gains were cited in Heinz, Philadelphia cream cheese and mac and cheese, but SNAP exposure and execution remain important risks.
Management priorities
- Execute the incremental investment plan and seek measurable market-share improvement.
- Improve price points, packaging, innovation and commercial execution across priority brands.
- Reduce net leverage toward approximately three-times EBITDA while funding the turnaround.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$23.45Previous close
$18Low
$31.41Average
$70High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 24, 2026 |
| TD Cowen | Hold | Hold | Maintain | Sep 22, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 14, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 7, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Aug 6, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Jul 15, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 8, 2026 |
| Bernstein | Underperform | Market Perform | Downgrade | Jun 3, 2026 |
| BNP Paribas | Underperform | Underperform | Maintain | Apr 9, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Jefferies | Hold | Hold | Maintain | Jan 21, 2026 |
| Morgan Stanley | Underweight | Equal Weight | Downgrade | Jan 16, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 28, 2025 |
| Stifel | Hold | Hold | Maintain | Sep 3, 2025 |
| Argus Research | Hold | Hold | Maintain | Aug 14, 2025 |
| Goldman Sachs | Neutral | Sell | Upgrade | Jun 25, 2025 |
| Citigroup | Sell | Neutral | Downgrade | Apr 4, 2025 |
| B of A Securities | Underperform | Buy | Downgrade | Feb 13, 2025 |
| Credit Suisse | Underperform | Underperform | Maintain | Feb 16, 2023 |
| Exane BNP Paribas | Neutral | Neutral | Maintain | Nov 15, 2022 |
| BMO Capital | Outperform | Market Perform | Upgrade | Jun 22, 2022 |
| Guggenheim | Neutral | Buy | Downgrade | Dec 8, 2021 |
| DZ Bank | Hold | Buy | Downgrade | May 5, 2021 |
| CFRA | Hold | Hold | Maintain | Feb 13, 2020 |
| Bank of America | Neutral | Neutral | Maintain | Aug 9, 2019 |
| Piper Jaffray | Neutral | Underweight | Upgrade | May 31, 2019 |
| PiperJaffray | Underweight | Neutral | Downgrade | Apr 24, 2019 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Mar 29, 2019 |
| Argus | Hold | Buy | Downgrade | Feb 26, 2019 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Feb 22, 2019 |
| Standpoint Research | Buy | Buy | Maintain | Dec 26, 2018 |
| Susquehanna | Negative | Neutral | Downgrade | Nov 2, 2018 |
| Societe Generale | Sell | Sell | Maintain | Mar 15, 2018 |
| Berenberg | Buy | Buy | Maintain | Jun 7, 2017 |
Named analyst price targets
Upside is calculated against the persisted previous close $23.45. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Nik Modi | $32 | $24.73 | +36.5% | Sep 17, 2026 |
| Barclays | Analyst unavailable | $26 | $24.96 | +10.9% | Aug 7, 2026 |
| Evercore ISI | David Palmer | $24 | $24.82 | +2.3% | Aug 6, 2026 |
| Evercore ISI | David Palmer | $23 | $25.74 | -1.9% | Jul 23, 2026 |
| Wells Fargo | Chris Carey | $25 | $25.3 | +6.6% | Jul 8, 2026 |
| Piper Sandler | Michael Lavery | $24 | $22.94 | +2.3% | Jun 25, 2026 |
| Bernstein | Alexia Howard | $21 | $23.33 | -10.4% | Jun 3, 2026 |
| Deutsche Bank | Analyst unavailable | $22 | $23.28 | -6.2% | May 7, 2026 |
| Piper Sandler | Analyst unavailable | $23 | $23.07 | -1.9% | May 7, 2026 |
| Morgan Stanley | Analyst unavailable | $22 | $21.89 | -6.2% | Apr 23, 2026 |
| BNP Paribas | Analyst unavailable | $18 | $23.27 | -23.2% | Apr 9, 2026 |
| Mizuho Securities | Analyst unavailable | $25 | $24.4 | +6.6% | Feb 23, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $23 | $24.39 | -1.9% | Feb 17, 2026 |
| Barclays | Analyst unavailable | $25 | $24.32 | +6.6% | Feb 13, 2026 |
| Goldman Sachs | Analyst unavailable | $23 | $24.72 | -1.9% | Feb 12, 2026 |
| Jefferies | Scott Marks | $23 | $23.76 | -1.9% | Jan 20, 2026 |
| Morgan Stanley | Megan Clapp | $24 | $24.24 | +2.3% | Jan 16, 2026 |
| UBS | Peter Grom | $24 | $24.02 | +2.3% | Jan 14, 2026 |
| Piper Sandler | Analyst unavailable | $27 | $24.45 | +15.1% | Dec 15, 2025 |
| Barclays | Analyst unavailable | $24 | $24.58 | +2.3% | Oct 31, 2025 |
| UBS | Peter Grom | $25 | $24.6 | +6.6% | Oct 30, 2025 |
| Coker Palmer | Thomas Palmer | $25 | $24.38 | +6.6% | Oct 30, 2025 |
| Piper Sandler | Michael Lavery | $25 | $24.38 | +6.6% | Oct 30, 2025 |
| Mizuho Securities | John Baumgartner | $27 | $25.42 | +15.1% | Oct 28, 2025 |
| Morgan Stanley | Analyst unavailable | $28 | $25.14 | +19.4% | Oct 16, 2025 |
| UBS | Analyst unavailable | $27 | $25.06 | +15.1% | Oct 8, 2025 |
| UBS | Peter Grom | $28 | $26.93 | +19.4% | Sep 4, 2025 |
| Stifel Nicolaus | Matthew Smith | $28 | $26.5 | +19.4% | Sep 3, 2025 |
| Morgan Stanley | Analyst unavailable | $29 | $26.02 | +23.7% | Sep 3, 2025 |
| Mizuho Securities | John Baumgartner | $29 | $26.54 | +23.7% | May 28, 2025 |
| Piper Sandler | Michael Lavery | $35 | $35.27 | +49.3% | Nov 19, 2024 |
| Mizuho Securities | John Baumgartner | $41 | $33.89 | +74.8% | Oct 31, 2024 |
| Deutsche Bank | Steve Powers | $35 | $33.73 | +49.3% | Oct 31, 2024 |
| Goldman Sachs | Leah Jordan | $32 | $33.73 | +36.5% | Oct 30, 2024 |
| Piper Sandler | Michael Lavery | $41 | $34.06 | +74.8% | Oct 3, 2024 |
| Deutsche Bank | Stephen Powers | $40 | $35.24 | +70.6% | Aug 1, 2024 |
| Barclays | Andrew Lazar | $34 | $33.77 | +45.0% | Jul 19, 2024 |
| Wells Fargo | Chris Carey | $34 | $32.32 | +45.0% | Jun 27, 2024 |
| Piper Sandler | Michael Lavery | $42 | $35.92 | +79.1% | May 22, 2024 |
| Bernstein | Alexia Howard | $40 | $33.24 | +70.6% | Nov 14, 2023 |
| Stifel Nicolaus | Matthew Smith | $44 | $39.34 | +87.6% | Apr 24, 2023 |
| Morgan Stanley | Dara Mohsenian | $70 | $38.19 | +198.5% | Mar 22, 2023 |
| Wells Fargo | Analyst unavailable | $43 | $40.38 | +83.4% | Jan 3, 2023 |
| Morgan Stanley | Pamela Kaufman | $41 | $40.11 | +74.8% | Dec 20, 2022 |
| Deutsche Bank | Analyst unavailable | $49 | $39.48 | +109.0% | Dec 6, 2022 |
| BNP Paribas | Analyst unavailable | $39 | $37.16 | +66.3% | Nov 15, 2022 |
| Morgan Stanley | Pamela Kaufman | $37 | $35.78 | +57.8% | Oct 14, 2022 |
| Goldman Sachs | Jason English | $43 | $33.03 | +83.4% | Oct 9, 2022 |
| Credit Suisse | Analyst unavailable | $36 | $36.6 | +53.5% | Jul 28, 2022 |
| Stifel Nicolaus | Christopher Growe | $43 | $36.34 | +83.4% | Jul 28, 2022 |
| Mizuho Securities | John Baumgartner | $48 | $38.43 | +104.7% | Jul 18, 2022 |
| BMO Capital | Kenneth Zaslow | $46 | $43.61 | +96.2% | Apr 29, 2022 |
| Stifel Nicolaus | Christopher Growe | $45 | $42.88 | +91.9% | Apr 28, 2022 |
| Morgan Stanley | Pamela Kaufman | $38 | $37.68 | +62.0% | Mar 16, 2022 |
| Stifel Nicolaus | Christopher Growe | $41 | $39.73 | +74.8% | Feb 27, 2022 |
| Piper Sandler | Michael Lavery | $40 | $37.39 | +70.6% | Feb 17, 2022 |
| Guggenheim | Laurent Grandet | $35 | $36.24 | +49.3% | Feb 16, 2022 |
| Jefferies | Robert Dickerson | $40 | $36.24 | +70.6% | Feb 16, 2022 |
| Barclays | Andrew Lazar | $41 | $35.74 | +74.8% | Aug 5, 2021 |
| DZ BANK AG | Axel Herlinghaus | $44 | $40.72 | +87.6% | May 5, 2021 |
| Evercore ISI | David Palmer | $42 | $39.59 | +79.1% | Apr 30, 2021 |
Track every rating change on KHC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Kraft Heinz Company, along with its subsidiaries, operates as a global entity focused on the manufacturing and marketing of a broad spectrum of food and beverage products. Its reach extends across key markets such as the United States, Canada, and the United Kingdom, as well as numerous other international territories. The company's diverse product offerings include popular condiments and sauces, a variety of cheese and dairy items, prepared meals, meat products, and refreshing beverages. Additionally, its portfolio features coffee, an assortment of healthy snacks, salad dressings, various spices and seasonings, and a range of other general grocery staples. Kraft Heinz employs a multi-faceted distribution strategy.…
Historical context
All KHC earningsConsumer Defensive peers this season
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|---|---|---|---|---|
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| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-30T11:16:12.515833+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T11:16:12.512975+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-30. For educational purposes only; not investment advice.