The Kraft Heinz Company (NASDAQ:KHC) Sees Significant Growth in Short Interest

by · The Markets Daily

The Kraft Heinz Company (NASDAQ:KHC – Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 35,010,000 shares, a growth of 11.0% from the September 15th total of 31,540,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily volume of 7,670,000 shares, the short-interest ratio is currently 4.6 days.

Kraft Heinz Trading Up 1.0 %

Shares of KHC stock opened at $35.72 on Wednesday. Kraft Heinz has a fifty-two week low of $31.08 and a fifty-two week high of $38.96. The firm’s 50 day moving average price is $35.15 and its two-hundred day moving average price is $34.98. The stock has a market cap of $43.37 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the business posted $0.79 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts anticipate that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.48%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Kraft Heinz

Several large investors have recently added to or reduced their stakes in the stock. Proquility Private Wealth Partners LLC grew its position in Kraft Heinz by 9.8% in the third quarter. Proquility Private Wealth Partners LLC now owns 25,290 shares of the company’s stock valued at $888,000 after acquiring an additional 2,258 shares in the last quarter. Tsfg LLC boosted its stake in shares of Kraft Heinz by 348.4% in the third quarter. Tsfg LLC now owns 4,426 shares of the company’s stock valued at $155,000 after purchasing an additional 3,439 shares during the period. Swedbank AB grew its holdings in Kraft Heinz by 6.9% during the 3rd quarter. Swedbank AB now owns 775,689 shares of the company’s stock valued at $27,234,000 after purchasing an additional 50,063 shares in the last quarter. Wesbanco Bank Inc. increased its stake in Kraft Heinz by 17.3% during the 3rd quarter. Wesbanco Bank Inc. now owns 11,281 shares of the company’s stock worth $396,000 after buying an additional 1,665 shares during the period. Finally, CX Institutional acquired a new position in Kraft Heinz in the 3rd quarter worth $340,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI cut their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.55.

Get Our Latest Research Report on Kraft Heinz

About Kraft Heinz

(Get Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.

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