The Kraft Heinz Company (NASDAQ:KHC) Short Interest Down 13.7% in September

The Kraft Heinz Company (NASDAQ:KHC) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 31,540,000 shares, a decline of 13.7% from the August 31st total of 36,560,000 shares. Based on an average trading volume of 7,810,000 shares, the short-interest ratio is presently 4.0 days. Approximately 2.6% of the company’s stock are sold short.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC purchased a new position in shares of Kraft Heinz in the 4th quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in Kraft Heinz in the 1st quarter worth about $27,000. Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of Kraft Heinz during the 2nd quarter valued at about $34,000. Finally, Valley Wealth Managers Inc. grew its stake in shares of Kraft Heinz by 46.4% during the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after purchasing an additional 340 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 1.6 %

Shares of NASDAQ KHC opened at $35.37 on Monday. Kraft Heinz has a one year low of $30.68 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $34.96 and its two-hundred day simple moving average is $35.05. The stock has a market capitalization of $42.95 billion, a P/E ratio of 15.45, a PEG ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. As a group, analysts expect that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.52%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Ratings Changes

KHC has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Bank of America reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $37.45.

Kraft Heinz Company Profile

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.