1. Kraft Foods (KFT) manufactures and markets packaged foods and grocery products. With presence in more than 75 countries, KFT operates in three segments: North America, Europe and Developing Markets. The company is scheduled to release its third-quarter 2011 results on Nov. 2 at market close.
With one of the worst peanut harvests in decades, Kraft said it would be increasing the price of its Planters brand peanut butter by 40% starting November 7.
Mid-October, the company paid a regular quarterly dividend of 29 cents per share on its common share of Class A stock. The company has a dividend yield of 3.4%, currently.
A consensus estimate of analysts polled by Bloomberg expects Kraft to record net income of $977.83 million, or 55 cents per share, compared to $824.16 million, or 47 cents per share, in the year-ago quarter. Sales for the quarter are seen rising 8% to $12.81 billion from $11.86 billion the year earlier. Cash flow per share is expected to increase multi-fold to 76 cents from 25 cents.The biscuit market leader in Europe, with a more than 15% market share, Kraft has opened its new European Biscuit R&D center in France to support product development for several of Europe's biscuit brands, including LU, belVita, Oreo, Mikado, Prince, Saiwa and TUC, with a total investment of $20 million. Of the 21 analysts covering the stock, 71% rate it a buy and the rest suggest a hold. There are no sell ratings on the stock. A Bloomberg poll foresees the stock gaining an average 12.5% to $38.88 in the upcoming 12 months.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV