Kraft Heinz Co (NASDAQ:KHC) Sees Large Increase in Short Interest

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Kraft Heinz Co (NASDAQ:KHC) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 24,590,600 shares, an increase of 38.8% from the April 30th total of 17,716,400 shares. Based on an average trading volume of 9,300,000 shares, the short-interest ratio is currently 2.6 days. Approximately 2.6% of the company’s stock are sold short.

A number of research analysts recently issued reports on the stock. TheStreet cut shares of Kraft Heinz from a “c-” rating to a “d+” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. cut shares of Kraft Heinz from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $37.00 in a research report on Friday, February 22nd. UBS Group cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $39.00 in a research report on Friday, February 22nd. BidaskClub raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Friday, April 5th. Finally, Piper Jaffray Companies cut shares of Kraft Heinz from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $42.00 in a research report on Friday, February 22nd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. Kraft Heinz presently has an average rating of “Hold” and an average price target of $41.22.

A number of institutional investors have recently modified their holdings of KHC. Norges Bank bought a new stake in shares of Kraft Heinz in the fourth quarter worth approximately $355,973,000. Magellan Asset Management Ltd grew its stake in shares of Kraft Heinz by 12.2% in the first quarter. Magellan Asset Management Ltd now owns 37,093,237 shares of the company’s stock worth $1,211,094,000 after acquiring an additional 4,046,115 shares during the period. American International Group Inc. grew its stake in shares of Kraft Heinz by 31.0% in the fourth quarter. American International Group Inc. now owns 7,692,416 shares of the company’s stock worth $331,082,000 after acquiring an additional 1,821,732 shares during the period. FMR LLC grew its stake in shares of Kraft Heinz by 16.7% in the fourth quarter. FMR LLC now owns 10,146,066 shares of the company’s stock worth $436,686,000 after acquiring an additional 1,452,407 shares during the period. Finally, Vanguard Group Inc grew its stake in shares of Kraft Heinz by 2.5% in the third quarter. Vanguard Group Inc now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after acquiring an additional 1,123,288 shares during the period. 58.19% of the stock is owned by institutional investors and hedge funds.

Shares of Kraft Heinz stock opened at $30.96 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.21 and a quick ratio of 0.85. The stock has a market capitalization of $37.77 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 2.92 and a beta of 0.69. Kraft Heinz has a 52-week low of $26.96 and a 52-week high of $64.99.

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.40 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.17%. Kraft Heinz’s dividend payout ratio (DPR) is presently 45.33%.

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About Kraft Heinz

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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