The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 35.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in shares of Kraft Heinz by 249.5% in 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 in the last quarter. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz during the first quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz in the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Asset Dedication LLC lifted its holdings in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after purchasing an additional 476 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

KHC stock traded down $0.65 during mid-day trading on Friday, reaching $31.14. The company's stock had a trading volume of 17,353,064 shares, compared to its average volume of 7,865,420. The stock has a market cap of $37.65 billion, a PE ratio of 28.17, a P/E/G ratio of 3.67 and a beta of 0.49. The company's 50 day moving average is $34.62 and its two-hundred day moving average is $34.52. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results 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. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the company earned $0.72 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio is presently 144.14%.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction 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. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

KHC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 31st. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a "buy" rating to a "hold" rating and reduced their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler dropped their target price on shares of Kraft Heinz from $41.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Finally, Mizuho reduced their target price on Kraft Heinz from $43.00 to $41.00 and set an "outperform" 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $37.00.

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.