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

Pinnacle Financial Partners Inc raised its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,560 shares of the company’s stock after purchasing 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.

Several other large investors have also recently made changes to their positions in KHC. MQS Management LLC purchased a new position in Kraft Heinz during the third quarter valued at $420,000. Community Bank & Trust Waco Texas increased its holdings in shares of Kraft Heinz by 20.3% during the third quarter. Community Bank & Trust Waco Texas now owns 62,635 shares of the company’s stock valued at $2,199,000 after acquiring an additional 10,590 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Kraft Heinz by 3.1% in the 3rd quarter. Empower Advisory Group LLC now owns 2,030,416 shares of the company’s stock worth $71,288,000 after purchasing an additional 61,338 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Kraft Heinz by 4.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,185 shares of the company’s stock worth $603,000 after purchasing an additional 767 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Kraft Heinz by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,638,422 shares of the company’s stock valued at $92,635,000 after purchasing an additional 47,335 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

KHC opened at $31.79 on Friday. The company’s 50 day moving average is $34.71 and its 200 day moving average is $34.53. 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 company has a market cap 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. On average, equities research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Mizuho decreased their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Piper Sandler decreased their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Evercore ISI cut their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Insider Activity

In other Kraft Heinz 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 shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.