Short Interest in Kraft Heinz Co (KHC) Drops By 6.3%

Kraft Heinz Co (NASDAQ:KHC) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 28,444,602 shares, a drop of 6.3% from the August 15th total of 30,352,834 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average trading volume of 4,882,029 shares, the days-to-cover ratio is currently 5.8 days.

Several equities research analysts have weighed in on KHC shares. Zacks Investment Research downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price target on shares of Kraft Heinz in a report on Tuesday, August 7th. BidaskClub downgraded Kraft Heinz from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Bank of America set a $85.00 price target on Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 6th. Finally, Susquehanna Bancshares set a $58.00 price target on Kraft Heinz and gave the stock a “hold” rating in a report on Tuesday, May 22nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $75.25.

In other Kraft Heinz news, EVP Eduardo Pelleissone sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. 26.81% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC lifted its holdings in Kraft Heinz by 133.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after acquiring an additional 965 shares during the period. Stevens First Principles Investment Advisors acquired a new position in Kraft Heinz in the second quarter valued at approximately $108,000. Mainstay Capital Management LLC ADV lifted its holdings in Kraft Heinz by 5,429.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,414 shares of the company’s stock valued at $108,000 after acquiring an additional 6,298 shares during the period. Kiley Juergens Wealth Management LLC acquired a new position in Kraft Heinz in the second quarter valued at approximately $113,000. Finally, Rainier Group Investment Advisory LLC acquired a new position in Kraft Heinz in the first quarter valued at approximately $118,000. 62.84% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz stock opened at $58.97 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70. Kraft Heinz has a 52 week low of $54.11 and a 52 week high of $82.48. The stock has a market cap of $72.08 billion, a P/E ratio of 16.61, a PEG ratio of 2.01 and a beta of 0.50.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. equities analysts anticipate that Kraft Heinz will post 3.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 17th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, August 16th. Kraft Heinz’s dividend payout ratio (DPR) is 70.42%.

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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