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

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

Several other hedge funds and other institutional investors have also modified their holdings of KHC. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz during the first quarter worth approximately $27,000. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Kraft Heinz during the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its position in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares during the last quarter. Finally, Bangor Savings Bank acquired a new position in Kraft Heinz in the third quarter worth $32,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $31.79 on Friday. The company has a fifty day moving average price of $34.71 and a 200 day moving average price of $34.53. The firm has a market cap 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 current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 1-year low of $31.58 and a 1-year high of $38.96.

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

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given 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 is Friday, November 29th. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Citigroup decreased their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Barclays lowered their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.00.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.