Short Interest in Kraft Heinz Co (NASDAQ:KHC) Drops By 5.4%

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Kraft Heinz Co (NASDAQ:KHC) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 21,046,600 shares, a decline of 5.4% from the May 30th total of 22,243,400 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 8,910,000 shares, the short-interest ratio is presently 2.4 days.

KHC stock traded down $0.16 during trading on Tuesday, hitting $30.52. The company had a trading volume of 46,166 shares, compared to its average volume of 7,154,639. The stock has a 50-day moving average price of $30.11. Kraft Heinz has a one year low of $26.96 and a one year high of $64.99. The firm has a market cap of $37.35 billion, a PE ratio of 8.65, a PEG ratio of 3.01 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.21.

KHC has been the topic of several research reports. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. UBS Group restated a “buy” rating and set a $25.00 price target on shares of Infineon Technologies in a report on Tuesday, May 7th. Evercore ISI initiated coverage on Mondelez International in a report on Tuesday, June 11th. They set an “outperform” rating and a $62.00 price target on the stock. BidaskClub upgraded YY from a “strong sell” rating to a “sell” rating in a report on Thursday, May 30th. Finally, Wolfe Research cut Kraft Heinz from a “peer perform” rating to an “underperform” rating and set a $27.00 price target on the stock. in a report on Friday, March 29th. Five 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.22.

A number of hedge funds have recently made changes to their positions in KHC. Arbor Wealth Management LLC boosted its holdings in shares of Kraft Heinz by 1.0% during the 2nd quarter. Arbor Wealth Management LLC now owns 83,308 shares of the company’s stock worth $2,586,000 after buying an additional 816 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Kraft Heinz by 64.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 410,074 shares of the company’s stock worth $12,729,000 after purchasing an additional 161,316 shares during the period. Truvestments Capital LLC raised its position in shares of Kraft Heinz by 96.4% during the second quarter. Truvestments Capital LLC now owns 3,643 shares of the company’s stock worth $113,000 after purchasing an additional 1,788 shares during the period. SevenBridge Financial Group LLC raised its position in shares of Kraft Heinz by 28.9% during the second quarter. SevenBridge Financial Group LLC now owns 5,723 shares of the company’s stock worth $178,000 after purchasing an additional 1,284 shares during the period. Finally, Community Bank of Raymore raised its position in shares of Kraft Heinz by 43.3% during the second quarter. Community Bank of Raymore now owns 52,461 shares of the company’s stock worth $1,628,000 after purchasing an additional 15,850 shares during the period. Institutional investors and hedge funds own 58.18% of the company’s stock.

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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