The Kraft Heinz Company (NASDAQ:KHC – Get Rating) saw unusually large options trading activity on Monday. Investors purchased 28,006 call options on the company. This represents an increase of 53% compared to the average volume of 18,364 call options.
Kraft Heinz Stock Performance
Shares of KHC stock traded up $1.04 on Monday, hitting $34.07. The company’s stock had a trading volume of 11,363,321 shares, compared to its average volume of 7,915,392. Kraft Heinz has a fifty-two week low of $32.73 and a fifty-two week high of $44.87. The company has a market capitalization of $41.75 billion, a PE ratio of 27.55, a PEG ratio of 2.49 and a beta of 0.72. The stock’s 50 day moving average is $36.39 and its 200-day moving average is $38.42. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.52 and a current ratio of 0.89.
Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Kraft Heinz had a return on equity of 6.82% and a net margin of 5.92%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. Equities research analysts expect that Kraft Heinz will post 2.66 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, August 26th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 25th. This represents a $1.60 annualized dividend and a dividend yield of 4.70%. Kraft Heinz’s payout ratio is 131.15%.
Insider Transactions at Kraft Heinz
In other news, CAO Lande Rashida La sold 3,500 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $36.56, for a total transaction of $127,960.00. Following the transaction, the chief accounting officer now owns 266,627 shares of the company’s stock, valued at $9,747,883.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Vince Garlati sold 19,938 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $38.43, for a total value of $766,217.34. Following the completion of the sale, the vice president now directly owns 94,843 shares of the company’s stock, valued at approximately $3,644,816.49. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lande Rashida La sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $36.56, for a total transaction of $127,960.00. Following the completion of the sale, the chief accounting officer now directly owns 266,627 shares of the company’s stock, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,438 shares of company stock worth $2,044,977. Corporate insiders own 1.40% of the company’s stock.
Institutional Trading of Kraft Heinz
A number of hedge funds have recently added to or reduced their stakes in KHC. Mackenzie Financial Corp lifted its holdings in Kraft Heinz by 98.9% during the 3rd quarter. Mackenzie Financial Corp now owns 437,192 shares of the company’s stock worth $14,580,000 after buying an additional 217,342 shares during the period. Community Bank & Trust Waco Texas boosted its holdings in Kraft Heinz by 4.8% in the third quarter. Community Bank & Trust Waco Texas now owns 19,692 shares of the company’s stock valued at $566,000 after acquiring an additional 896 shares during the last quarter. Econ Financial Services Corp increased its position in Kraft Heinz by 103.0% during the 3rd quarter. Econ Financial Services Corp now owns 58,647 shares of the company’s stock valued at $1,956,000 after purchasing an additional 29,762 shares during the period. Moody National Bank Trust Division lifted its position in shares of Kraft Heinz by 50.5% in the 3rd quarter. Moody National Bank Trust Division now owns 30,732 shares of the company’s stock worth $1,025,000 after purchasing an additional 10,309 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of Kraft Heinz by 15.8% in the 3rd quarter. Wedmont Private Capital now owns 6,615 shares of the company’s stock valued at $221,000 after purchasing an additional 903 shares during the last quarter. Institutional investors and hedge funds own 67.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on KHC. Stifel Nicolaus upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 28th. They noted that the move was a valuation call. Mizuho began coverage on shares of Kraft Heinz in a research note on Monday, July 18th. They issued a “buy” rating and a $48.00 target price for the company. BMO Capital Markets upgraded Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Wednesday, June 22nd. TheStreet downgraded Kraft Heinz from a “b” rating to a “c+” rating in a research note on Monday, September 19th. Finally, The Goldman Sachs Group upgraded Kraft Heinz from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Sunday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.10.
About Kraft Heinz
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.