Kraft Foods Group Short Interest Down 14.3% in July (KRFT)
Kraft Foods Group (NASDAQ:KRFT) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 7,277,035 shares, a drop of 14.3% from the July 15th total of 8,495,443 shares, ARN reports. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 3,234,402 shares, the days-to-cover ratio is presently 2.2 days.
KRFT has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Kraft Foods Group in a research note on Friday, August 1st. They now have a $56.00 price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Kraft Foods Group in a research note on Thursday, July 31st. They now have a $63.00 price target on the stock, down previously from $65.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Kraft Foods Group in a research note on Thursday, July 31st. They now have a $57.00 price target on the stock, down previously from $58.00. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $59.14.
Kraft Foods Group (NASDAQ:KRFT) opened at 56.10 on Wednesday. Kraft Foods Group has a 52 week low of $50.54 and a 52 week high of $61.10. The stock’s 50-day moving average is $58.30 and its 200-day moving average is $56.81. The company has a market cap of $33.322 billion and a P/E ratio of 13.94.
Kraft Foods Group (NASDAQ:KRFT) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.83 by $0.03. The company had revenue of $4.75 million for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the company posted $0.85 earnings per share. Kraft Foods Group’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that Kraft Foods Group will post $3.15 earnings per share for the current fiscal year.
Kraft Foods Group, Inc (NASDAQ:KRFT) operates food and beverage businesses in North America.
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