Kraft Heinz Sees Unusually Large Options Volume (KHC)

Kraft Heinz Co (NASDAQ:KHC) saw unusually large options trading activity on Thursday. Traders acquired 31,273 call options on the company. This represents an increase of 834% compared to the average daily volume of 3,347 call options.

KHC stock opened at $47.08 on Friday. Kraft Heinz has a 52-week low of $41.60 and a 52-week high of $80.60. The company has a market cap of $57.12 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.47.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. Kraft Heinz’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that Kraft Heinz will post 3.62 EPS for the current year.

A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. BMO Capital Markets lowered their price objective on shares of Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, November 5th. Susquehanna Bancshares restated a “negative” rating and issued a $47.00 price objective (down from $59.00) on shares of Kraft Heinz in a report on Friday, November 2nd. Zacks Investment Research lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Finally, UBS Group set a $65.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Friday, November 2nd. Seven research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $66.89.

Several hedge funds have recently added to or reduced their stakes in KHC. Vanguard Group Inc. grew its position in Kraft Heinz by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after purchasing an additional 1,123,288 shares during the period. Vanguard Group Inc grew its position in Kraft Heinz by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after purchasing an additional 1,123,288 shares during the period. BlackRock Inc. grew its position in Kraft Heinz by 2.8% in the 3rd quarter. BlackRock Inc. now owns 36,036,271 shares of the company’s stock worth $1,985,959,000 after purchasing an additional 997,088 shares during the period. Morgan Stanley grew its position in Kraft Heinz by 3.9% in the 3rd quarter. Morgan Stanley now owns 12,113,755 shares of the company’s stock worth $667,589,000 after purchasing an additional 451,572 shares during the period. Finally, FMR LLC grew its position in Kraft Heinz by 5.3% in the 3rd quarter. FMR LLC now owns 8,693,659 shares of the company’s stock worth $479,108,000 after purchasing an additional 438,842 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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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.

See Also: Bid-Ask Spread

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