Kraft Foods Group Inc. (NASDAQ: KFT) is again outlining more and more of its outlook for what the company will look like after its reorganization. It is also giving more details on the coming break-up for what Mondelez International will look like.
At the Barclays Back to School Consumer Conference held in Boston, the company offered the following data:
- Long-Term Targets of 5% to 7% Organic net revenue growth and double-digit operating earnings per share growth on a constant-currency basis
- 2013 outlook of 5% to 7% organic net revenue growth and operating earnings per share of $1.50 to $1.55
What is important to know here is that even if Kraft has been dead money for so much of the past decade, this stock is effectively at an all-time high. It also still yields 2.8% or so in dividend yield terms, and that is above average for many food stocks.
Kraft’s close was up 1.55% at $42.31 and the stock’s new high is $42.44; shares have traded in a range of $31.88 to $42.00 over the last 52-weeks. The old nominal high on Kraft shares was actually $43.95 back in June 3, 2012 but on a dividend-adjusted basis the real price would be more than $10 lower per share on that basis.
JON C. OGG