Pinnacle Financial Partners Inc Purchases 381 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Pinnacle Financial Partners Inc boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,560 shares of the company’s stock after acquiring an additional 381 shares during the period. Pinnacle Financial Partners Inc’s holdings in Kraft Heinz were worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC grew its holdings in shares of Kraft Heinz by 6.8% during the first quarter. Bleakley Financial Group LLC now owns 13,267 shares of the company’s stock worth $490,000 after purchasing an additional 842 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Kraft Heinz by 43.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 170,253 shares of the company’s stock worth $6,282,000 after buying an additional 51,876 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Kraft Heinz by 11.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 17,470 shares of the company’s stock valued at $645,000 after buying an additional 1,751 shares in the last quarter. HBK Sorce Advisory LLC purchased a new position in Kraft Heinz in the first quarter worth $212,000. Finally, Blair William & Co. IL increased its stake in Kraft Heinz by 2.4% in the first quarter. Blair William & Co. IL now owns 226,868 shares of the company’s stock valued at $8,371,000 after acquiring an additional 5,336 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

KHC stock opened at $31.79 on Friday. 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 firm’s 50-day moving average price is $34.71 and its two-hundred day moving average price is $34.53. The stock has a market capitalization of $38.44 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $31.58 and a 12-month high of $38.96.

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

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.03%. Kraft Heinz’s dividend payout ratio is 144.14%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KHC shares. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Mizuho cut their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Citigroup reduced their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued 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 $37.00.

Insider Activity

In other 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 stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

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.