The Kraft Heinz Company (NASDAQ:KHC) Stock Position Trimmed by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,996 shares of the company’s stock after selling 1,564 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Kraft Heinz were worth $246,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB raised its position in shares of Kraft Heinz by 143.4% during the 3rd quarter. AMF Tjanstepension AB now owns 245,522 shares of the company’s stock worth $8,620,000 after buying an additional 144,646 shares in the last quarter. Eastern Bank bought a new stake in shares of Kraft Heinz during the 3rd quarter worth about $41,000. International Assets Investment Management LLC raised its position in shares of Kraft Heinz by 4,806.3% during the 3rd quarter. International Assets Investment Management LLC now owns 616,134 shares of the company’s stock worth $21,632,000 after buying an additional 603,576 shares in the last quarter. Allworth Financial LP raised its position in shares of Kraft Heinz by 37.4% during the 3rd quarter. Allworth Financial LP now owns 13,580 shares of the company’s stock worth $477,000 after buying an additional 3,695 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Kraft Heinz by 0.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 141,900 shares of the company’s stock worth $4,982,000 after purchasing an additional 700 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

NASDAQ KHC opened at $31.13 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $37.20 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 3.39 and a beta of 0.47. The company has a 50 day moving average price of $29.73 and a two-hundred day moving average price of $32.53. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. As a group, equities analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s payout ratio is 70.80%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KHC. TD Cowen lowered their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.86.

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.