Oscar Mayer Announces Second Annual Wienie 500 Race on May 22
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Businesswire
- Event Return: Oscar Mayer announces the second annual Wienie 500 race on May 22 at the Indianapolis Motor Speedway, which attracted 85,000 fans and 8 million online viewers last year, showcasing the brand's strong appeal.
- Sales Growth: The company sold nearly half a million more hot dogs last year, indicating sustained consumer enthusiasm and further solidifying Oscar Mayer's leadership position in the market.
- New Experience: This year's event will feature a live nationwide broadcast and a 'Pick Your Dog' voting activity, enhancing fan engagement and interaction, which is expected to draw more viewers and participants.
- Tradition Continuation: The race will retain beloved elements from the inaugural Wienie 500, such as custom Wienermobile decals and the 'Wiener Song', aiming to provide a uniquely delightful experience that enhances the brand image.
Analyst Views on KHC
Wall Street analysts forecast KHC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KHC is 25.86 USD with a low forecast of 24.00 USD and a high forecast of 28.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
0 Buy
14 Hold
1 Sell
Hold
Current: 22.720
Low
24.00
Averages
25.86
High
28.00
Current: 22.720
Low
24.00
Averages
25.86
High
28.00
About KHC
The Kraft Heinz Company manufactures and markets food and beverage products around the world through its eight consumer-driven product platforms: Taste Elevation, Easy Ready Meals, Substantial Snacking, Desserts, Hydration, Cheese, Coffee, and Meats. The Company has two reportable segments defined by geographic region: North America and International Developed Markets. Its other segments, consisting of West and East Emerging Markets (WEEM) and Asia Emerging Markets (AEM), are combined and disclosed as Emerging Markets. It manufactures its products from a wide variety of raw materials. Its brands include Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Capri Sun, Maxwell Apartment, Kool-Aid, Jell-O, Heinz, Golden Circle, Wattie’s, Plasmon, Heinz, ABC, Master, Quero, Kraft, and Pudliszki, among others. The Company’s products are sold through its own sales organizations and through independent brokers, agents, and distributors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
