Kraft Heinz gains on FY profit forecast raise
** Shares of Jell-O maker Kraft Heinz KHC.O up as much as 3.5% at $32.56, the highest since Oct. 11
** Company raises annual profit forecast, after beating third-quarter earnings estimates, benefiting from higher prices of its packaged meals and condiments
** Kraft's prices in Q3 rose 7.1 percentage points, helping adjusted gross margin to rise by 396 basis points to 34%
** Company posts adjusted EPS of 72 cents, topping analysts' estimate of 63 cents - LSEG data
** Quarterly net sales of $6.57 bln miss expectations of $6.72 bln
** Expects FY adj profit in the range of $2.91-$2.99 per share vs prior forecast range of $2.83-$2.91 per share
** As of last close, stock down 22.72% YTD
Reporting by Annett Mary Manoj
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