Pinnacle Financial Partners Inc. reduced its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,136 shares of the company’s stock after selling 5,584 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Kraft Heinz were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Cannell Peter B & Co. Inc. increased its position in Kraft Heinz by 2.5% during the third quarter. Cannell Peter B & Co. Inc. now owns 55,177 shares of the company’s stock valued at $4,279,000 after acquiring an additional 1,325 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kraft Heinz by 3.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,617 shares of the company’s stock valued at $10,827,000 after acquiring an additional 4,941 shares during the last quarter. Turim 21 Investimentos Ltda. purchased a new stake in Kraft Heinz during the third quarter valued at $49,126,000. Yorktown Management & Research Co Inc purchased a new stake in Kraft Heinz during the third quarter valued at $155,000. Finally, Harbour Capital Advisors LLC increased its position in Kraft Heinz by 17.1% during the third quarter. Harbour Capital Advisors LLC now owns 8,500 shares of the company’s stock valued at $675,000 after acquiring an additional 1,240 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kraft Heinz Co (KHC) opened at $80.49 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.43 and a current ratio of 0.77. Kraft Heinz Co has a 1 year low of $75.21 and a 1 year high of $97.77. The stock has a market capitalization of $99,816.90, a PE ratio of 23.01, a P/E/G ratio of 2.27 and a beta of 0.45.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. analysts forecast that Kraft Heinz Co will post 3.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, November 16th. Kraft Heinz’s dividend payout ratio is currently 77.88%.

KHC has been the subject of a number of analyst reports. Susquehanna Bancshares restated a “neutral” rating and issued a $85.00 price target (down previously from $94.00) on shares of Kraft Heinz in a research report on Wednesday, August 9th. BidaskClub upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Piper Jaffray Companies set a $92.00 price target on Kraft Heinz and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $95.00 price target on shares of Kraft Heinz in a research report on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Kraft Heinz has a consensus rating of “Buy” and an average target price of $92.49.

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Kraft Heinz Profile

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

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

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