Cornercap Investment Counsel Inc. Has $1.32 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Cornercap Investment Counsel Inc. lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 35.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,516 shares of the company’s stock after selling 20,367 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Kraft Heinz were worth $1,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MADDEN SECURITIES Corp lifted its stake in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC increased its position in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after buying an additional 314 shares during the period. Axiom Advisory LLC boosted its stake in shares of Kraft Heinz by 5.2% in the third quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after buying an additional 327 shares during the period. Norden Group LLC raised its position in shares of Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after buying an additional 339 shares in the last quarter. Finally, Valley Wealth Managers Inc. grew its position in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 1.1 %

Shares of KHC stock opened at $31.79 on Friday. The stock has a fifty day simple moving average of $34.71 and a two-hundred day simple moving average of $34.53. The Kraft Heinz Company has a 52-week low of $31.58 and a 52-week high of $38.96. The firm has a market capitalization of $38.44 billion, a PE ratio of 28.64, a PEG ratio of 3.67 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis 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 presently 144.14%.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on KHC shares. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. Mizuho lowered their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler lowered their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Company Profile

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.