On Monday Kraft Heinz Co (NASDAQ:KHC) shares advanced by nearly 1% extending Friday’s gains to over 4%. The company said Friday it is acquiring an 85% stake in the Germany-based Just Spices. Details of the deal were not disclosed. However, Just Spices’ three co-founders will retain the remaining 15% stake in the company.
In September, the US multinational food company bought Brazilian food company, Hemmer, further extending its global expansion. Kraft Heinz is making strategic acquisitions that will put it in a strong position for localised global growth.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
Just Spices is a startup launched in 2014 with approximately EUR 60 million in annual sales. The deal is expected to close during the first quarter of 2022, upon fulfilling customary conditions.
From an investment perspective, Kraft Heinz shares trade at compelling trailing 12-month and forward P/E ratios of 19.25 and 13.06, respectively. Therefore, the stock could be an exciting option for value investors.
On the other hand, analysts expect its earnings per share to decline by more than 85% this year before falling at an average annual rate of 2.44% over the next five years. Therefore, growth investors may opt to monitor the stock in the coming quarters before buying.
Technically, Kraft Heinz shares seem to have recently spiked to complete an upward breakout from a descending channel formation. As a result, the stock has recovered from oversold conditions of the 14-day RSI.
Therefore, investors could target extended gains at about $36.37, or higher at $37.95, while $32.85 and $31.10 are crucial support zones.
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:
There is good reason to be afraid. Previous down markets have seen declines in excess…
United Parcel Service, Inc. (NYSE:UPS) and FedEx Corporation (NYSE:FDX) are two robust logistics companies. Both…
Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June,…
Invezz does not provide financial advice. Our aim is to simplify information about investing, enabling…
Noma, a Japanese film studio, has announced that it is producing three feature films that…
Bitcoin (BTC) saw continued strength on June 21 as Wall Street trading opened with a…