Kraft Heinz Co (NASDAQ:KHC) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 16,600,000 shares, a decrease of 9.2% from the September 30th total of 18,280,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 7,880,000 shares, the days-to-cover ratio is presently 2.1 days.
A number of equities research analysts recently commented on KHC shares. Wells Fargo & Co reissued a “hold” rating on shares of Kraft Heinz in a research report on Tuesday, September 3rd. Piper Jaffray Companies set a $33.00 price target on Kraft Heinz and gave the company a “hold” rating in a research report on Friday, November 1st. Barclays set a $32.00 price target on Kraft Heinz and gave the company a “hold” rating in a research report on Friday, November 1st. BidaskClub raised Kraft Heinz from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Guggenheim set a $25.00 target price on Kraft Heinz and gave the company a “sell” rating in a research report on Monday, August 26th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $34.00.
Shares of Kraft Heinz stock traded down $0.29 during trading hours on Monday, hitting $31.01. 7,257,200 shares of the company’s stock traded hands, compared to its average volume of 9,543,339. Kraft Heinz has a 12-month low of $24.86 and a 12-month high of $52.74. The stock has a market capitalization of $37.81 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 2.45 and a beta of 0.80. The company has a fifty day simple moving average of $29.30 and a 200-day simple moving average of $29.52. 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 (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.15. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. On average, analysts forecast that Kraft Heinz will post 2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.60 annualized dividend and a dividend yield of 5.16%. Kraft Heinz’s payout ratio is 45.33%.
In related news, Director Jorge P. Lemann purchased 3,496,503 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $28.60 per share, with a total value of $99,999,985.80. Following the transaction, the director now owns 3,516,449 shares of the company’s stock, valued at approximately $100,570,441.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Damme Alexandre Van purchased 250,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average cost of $28.45 per share, with a total value of $7,112,500.00. Following the completion of the transaction, the director now directly owns 8,168 shares in the company, valued at approximately $232,379.60. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.
Several hedge funds have recently bought and sold shares of KHC. Amundi Pioneer Asset Management Inc. grew its stake in shares of Kraft Heinz by 22.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock worth $21,358,000 after acquiring an additional 121,281 shares during the period. Thomasville National Bank bought a new position in shares of Kraft Heinz during the 2nd quarter worth $1,114,000. RK Asset Management LLC grew its stake in shares of Kraft Heinz by 4.1% during the 2nd quarter. RK Asset Management LLC now owns 139,356 shares of the company’s stock worth $4,326,000 after acquiring an additional 5,520 shares during the period. DNB Asset Management AS grew its stake in shares of Kraft Heinz by 2.8% during the 2nd quarter. DNB Asset Management AS now owns 84,308 shares of the company’s stock worth $2,617,000 after acquiring an additional 2,335 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in shares of Kraft Heinz by 66.1% during the 2nd quarter. Foundations Investment Advisors LLC now owns 34,274 shares of the company’s stock worth $1,071,000 after acquiring an additional 13,637 shares during the period. Institutional investors own 57.43% of the company’s stock.
Kraft Heinz Company Profile
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.
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