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

Cornercap Investment Counsel Inc. grew its position in The Kraft Heinz Company (NASDAQ:KHC) by 37.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sawyer & Company Inc purchased a new stake in Kraft Heinz during the 4th quarter worth approximately $25,000. Generali Investments Management Co LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $29,000. Larson Financial Group LLC raised its stake in Kraft Heinz by 191.0% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after acquiring an additional 636 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Kraft Heinz in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.24 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. 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. The company has a 50-day moving average price of $29.99 and a 200 day moving average price of $31.74. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96.

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

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. 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 dividend payout ratio is currently 70.80%.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley started coverage on Kraft Heinz in a report on Monday, March 24th. They set an “underweight” rating and a $29.00 target price on the stock. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.73.

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.