The Kraft Heinz Company (NASDAQ:KHC) Short Interest Update

The Kraft Heinz Company (NASDAQ:KHC) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 23,270,000 shares, a growth of 19.7% from the May 31st total of 19,440,000 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 7,670,000 shares, the days-to-cover ratio is currently 3.0 days.

Insiders Place Their Bets

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth $32,000. BKM Wealth Management LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth $33,000. Finally, Headinvest LLC acquired a new position in shares of Kraft Heinz in the third quarter worth $38,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC traded up $0.14 during trading on Tuesday, reaching $32.00. The company’s stock had a trading volume of 5,466,758 shares, compared to its average volume of 8,014,468. The firm has a fifty day simple moving average of $35.06 and a two-hundred day simple moving average of $35.99. The company has a market cap of $38.86 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 2.60 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 1 year low of $30.68 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. As a group, analysts anticipate that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 5.00%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KHC shares. Bank of America upped their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Piper Sandler lowered their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.75.

About Kraft Heinz

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.