Market Insider

Kraft Heinz shares jump after earnings beat

Kraft and Heinz products
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Shares of food producer Kraft Heinz popped in trading by more than 5 percent Friday after reporting second- quarter earnings that beat expectations on Thursday.

The stock ended the day up nearly 4 percent.

The company posted adjusted earnings of 85 cents per share for its latest quarter, 13 cents a share above estimates. Revenue was in line with forecasts, and the firm also announced a 4.3 percent dividend hike.

Deutsche Bank predicted Kraft Heinz would rally 20 percent, and raised its rating of the company to "buy" from "hold."

More broadly, shares of the company have risen more than 24 percent in trading since Jan. 1.

Kraft Heinz performance in 2016

— CNBC's Peter Schacknow contributed to this report.