Pinnacle Associates Ltd. Has $528,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Pinnacle Associates Ltd. reduced its holdings in The Kraft Heinz Company (NASDAQ:KHCFree Report) by 4.1% during the 4th quarter, Holdings Channel reports. The fund owned 14,282 shares of the company’s stock after selling 606 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Kraft Heinz were worth $528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caprock Group LLC boosted its holdings in shares of Kraft Heinz by 283.9% in the 4th quarter. Caprock Group LLC now owns 47,165 shares of the company’s stock worth $1,744,000 after acquiring an additional 34,879 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Kraft Heinz by 20.5% in the 4th quarter. Global Retirement Partners LLC now owns 6,250 shares of the company’s stock worth $235,000 after acquiring an additional 1,065 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Kraft Heinz by 15.8% in the 4th quarter. Blue Trust Inc. now owns 7,847 shares of the company’s stock worth $264,000 after acquiring an additional 1,068 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Kraft Heinz in the 4th quarter worth approximately $63,000. Finally, Uncommon Cents Investing LLC lifted its holdings in Kraft Heinz by 8.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 67,950 shares of the company’s stock worth $2,513,000 after buying an additional 5,130 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $37.37 on Thursday. The firm has a fifty day moving average of $35.94 and a two-hundred day moving average of $35.12. The stock has a market capitalization of $45.43 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.93 and a beta of 0.67. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $41.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio is currently 69.26%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KHC shares. Wells Fargo & Company reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Citigroup started coverage on Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Evercore ISI raised Kraft Heinz from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Monday, December 11th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.57.

Read Our Latest Report on KHC

Kraft Heinz Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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