Cornercap Investment Counsel Inc. Acquires 14,232 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Cornercap Investment Counsel Inc. grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,748 shares of the company’s stock after purchasing an additional 14,232 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Kraft Heinz were worth $1,589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KHC. Sawyer & Company Inc bought a new position in Kraft Heinz in the 4th quarter worth $25,000. Generali Investments Management Co LLC purchased a new stake in Kraft Heinz in the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Kraft Heinz during the 4th quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in shares of Kraft Heinz by 191.0% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 636 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $34,000. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Mizuho cut shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $38.00 to $31.00 in a report on Monday, February 10th. Piper Sandler lowered their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. StockNews.com raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. UBS Group reduced their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz Price Performance

KHC opened at $30.24 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $29.99 and a 200 day moving average of $31.74. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The stock has a market cap of $36.14 billion, a P/E ratio of 13.38, a PEG ratio of 3.39 and a beta of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.29%. Kraft Heinz’s payout ratio is currently 70.80%.

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.