Kraft Heinz Co (KHC) Short Interest Up 8.0% in November
Kraft Heinz Co (NASDAQ:KHC) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 18,304,715 shares, a growth of 8.0% from the November 15th total of 16,955,646 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily volume of 3,380,295 shares, the short-interest ratio is currently 5.4 days.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday. BMO Capital Markets cut their price objective on Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, November 2nd. BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Citigroup cut their price objective on Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Finally, Piper Jaffray Companies raised Kraft Heinz from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $92.00 to $90.00 in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $92.49.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Kraft Heinz by 2,314.8% during the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock worth $2,956,129,000 after purchasing an additional 31,204,852 shares in the last quarter. Morgan Stanley grew its holdings in shares of Kraft Heinz by 55.6% during the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after purchasing an additional 2,988,664 shares in the last quarter. FMR LLC grew its holdings in shares of Kraft Heinz by 30.0% during the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after purchasing an additional 2,659,846 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Kraft Heinz by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock worth $3,827,601,000 after purchasing an additional 1,585,231 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $102,151,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.83. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. equities research analysts forecast that Kraft Heinz will post 3.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, November 16th. Kraft Heinz’s dividend payout ratio (DPR) is currently 77.88%.
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About Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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