Kraft Heinz Co (NASDAQ:KHC) Sees Large Decrease in Short Interest

Kraft Heinz Co (NASDAQ:KHC) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 16,600,000 shares, a decline of 9.2% from the September 30th total of 18,280,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 7,880,000 shares, the days-to-cover ratio is currently 2.1 days.

KHC stock traded up $0.34 during midday trading on Friday, reaching $31.30. The company had a trading volume of 6,952,000 shares, compared to its average volume of 8,576,538. The firm has a 50-day moving average price of $29.10 and a 200-day moving average price of $29.55. The company has a market capitalization of $37.81 billion, a P/E ratio of 8.87, a P/E/G ratio of 2.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.65. Kraft Heinz has a 1 year low of $24.86 and a 1 year high of $52.90.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, October 31st. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.15. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a negative net margin of 42.85% and a positive return on equity of 6.23%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. On average, equities analysts predict that Kraft Heinz will post 2.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, November 14th. Kraft Heinz’s dividend payout ratio is presently 45.33%.

In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total transaction of $712,952,605.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Damme Alexandre Van acquired 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average price of $28.45 per share, for a total transaction of $7,112,500.00. Following the completion of the purchase, the director now owns 8,168 shares in the company, valued at approximately $232,379.60. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Kraft Heinz by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,427,138 shares of the company’s stock valued at $1,503,178,000 after purchasing an additional 630,178 shares during the last quarter. BlackRock Inc. grew its position in Kraft Heinz by 5.1% during the 2nd quarter. BlackRock Inc. now owns 38,743,271 shares of the company’s stock valued at $1,202,590,000 after purchasing an additional 1,884,480 shares during the last quarter. Invesco Ltd. grew its position in Kraft Heinz by 2.7% during the 2nd quarter. Invesco Ltd. now owns 20,084,226 shares of the company’s stock valued at $623,415,000 after purchasing an additional 527,530 shares during the last quarter. Northern Trust Corp grew its position in Kraft Heinz by 4.5% during the 2nd quarter. Northern Trust Corp now owns 7,780,206 shares of the company’s stock valued at $241,497,000 after purchasing an additional 336,299 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Kraft Heinz by 21.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 5,316,259 shares of the company’s stock valued at $148,510,000 after purchasing an additional 922,376 shares during the last quarter. 56.93% of the stock is currently owned by hedge funds and other institutional investors.

KHC has been the topic of a number of analyst reports. Wells Fargo & Co reiterated a “hold” rating on shares of Kraft Heinz in a research note on Tuesday, September 3rd. Piper Jaffray Companies set a $33.00 price objective on Kraft Heinz and gave the company a “hold” rating in a research note on Friday, November 1st. Guggenheim set a $25.00 price objective on Kraft Heinz and gave the company a “sell” rating in a research note on Monday, August 26th. UBS Group set a $30.00 target price on Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Barclays set a $32.00 target price on Kraft Heinz and gave the stock a “hold” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $34.00.

About Kraft Heinz

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Further Reading: What are the FAANG Stocks?

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit