Pinnacle Financial Partners Inc Has $246,000 Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Pinnacle Financial Partners Inc trimmed its position in The Kraft Heinz Company (NASDAQ:KHC) by 16.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,996 shares of the company’s stock after selling 1,564 shares during the period. Pinnacle Financial Partners Inc’s holdings in Kraft Heinz were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC raised its stake in Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz during the 3rd quarter valued at $411,304,000. Nordea Investment Management AB raised its stake in Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $31.13 on Monday. The firm has a market cap of $37.20 billion, a P/E ratio of 13.77, a P/E/G ratio of 3.39 and a beta of 0.47. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The stock’s 50 day moving average is $29.73 and its 200 day moving average is $32.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

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

Kraft Heinz Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KHC. The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. Mizuho lowered shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $31.00 in a report on Monday, February 10th. Bank of America lowered shares of Kraft Heinz from a “buy” rating to an “underperform” rating and lowered their price target for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Jefferies Financial Group lowered their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Finally, Piper Sandler lowered their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average 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.