Kraft Heinz Target of Unusually High Options Trading (NASDAQ:KHC)

The Kraft Heinz Company (NASDAQ:KHC) saw some unusual options trading on Friday. Stock investors purchased 35,421 call options on the stock. This represents an increase of approximately 68% compared to the typical daily volume of 21,088 call options.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $30.68 on Friday. The business has a 50-day moving average price of $32.15 and a two-hundred day moving average price of $33.52. Kraft Heinz has a 1-year low of $30.01 and a 1-year high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $37.10 billion, a P/E ratio of 27.64, a PEG ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that Kraft Heinz will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.22%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC raised its position in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz during the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its holdings in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after buying an additional 476 shares in the last quarter. Finally, Bangor Savings Bank acquired a new position in shares of Kraft Heinz during the third quarter valued at about $32,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the topic of several recent research reports. Mizuho cut their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup reduced their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Barclays reduced their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group dropped their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.55.

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.