Pinnacle Financial Partners Inc Decreases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Pinnacle Financial Partners Inc cut its position in The Kraft Heinz Company (NASDAQ:KHCFree Report) by 13.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,575 shares of the company’s stock after selling 1,425 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Kraft Heinz were worth $354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Trust N.A. boosted its stake in shares of Kraft Heinz by 11.0% in the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock valued at $1,465,000 after purchasing an additional 3,916 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Kraft Heinz in the third quarter valued at $5,399,000. Victory Capital Management Inc. raised its holdings in Kraft Heinz by 16.3% in the third quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock valued at $59,478,000 after acquiring an additional 247,896 shares in the last quarter. FMR LLC raised its holdings in Kraft Heinz by 37.9% in the third quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after acquiring an additional 832,653 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Kraft Heinz in the second quarter valued at $4,377,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on KHC shares. Wells Fargo & Company cut their price target on shares of 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 shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Evercore ISI raised shares of Kraft Heinz from an “in-line” rating to an “outperform” rating and upped their price target for the company from $40.00 to $42.00 in a report on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.57.

Read Our Latest Report on KHC

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC opened at $37.37 on Thursday. The stock has a market capitalization of $45.43 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.93 and a beta of 0.67. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $41.47. The company’s fifty day moving average is $35.94 and its two-hundred day moving average is $35.12. 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 released its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

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

Kraft Heinz Company 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.

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

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