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

Kraft Heinz Co (NASDAQ:KHC) was the recipient of a large drop in short interest in the month of September. As of September 14th, there was short interest totalling 24,555,010 shares, a drop of 13.7% from the August 31st total of 28,444,535 shares. Based on an average trading volume of 6,893,333 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.6% of the shares of the company are sold short.

In related news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eduardo Pelleissone sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $63.85, for a total value of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Magellan Asset Management Ltd boosted its stake in shares of Kraft Heinz by 39.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after acquiring an additional 9,529,235 shares in the last quarter. FMR LLC boosted its stake in shares of Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after acquiring an additional 2,111,198 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Kraft Heinz by 3.3% during the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock worth $452,592,000 after acquiring an additional 230,493 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after acquiring an additional 3,398,664 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after acquiring an additional 93,997 shares in the last quarter. 62.82% of the stock is owned by institutional investors and hedge funds.

KHC opened at $55.04 on Friday. The firm has a market cap of $67.86 billion, a PE ratio of 15.50, a P/E/G ratio of 1.90 and a beta of 0.50. 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 fifty-two week low of $54.11 and a fifty-two week high of $82.48.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.08. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.57 billion. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The company’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. equities research analysts forecast that Kraft Heinz will post 3.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 17th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Thursday, August 16th. Kraft Heinz’s dividend payout ratio is presently 70.42%.

A number of equities analysts have issued reports on KHC shares. BidaskClub lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Kraft Heinz in a research note on Tuesday, August 7th. Morgan Stanley started coverage on Kraft Heinz in a research note on Monday, September 17th. They set an “underweight” rating and a $52.00 price target for the company. Finally, Bank of America set a $85.00 price target on Kraft Heinz and gave the company a “buy” rating in a research note on Monday, August 6th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $73.14.

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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