The Kraft Heinz Company (NASDAQ:KHC) Position Raised by Old North State Wealth Management LLC

Old North State Wealth Management LLC increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 7.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 82,510 shares of the company’s stock after buying an additional 5,972 shares during the quarter. Kraft Heinz accounts for 1.4% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Old North State Wealth Management LLC’s holdings in Kraft Heinz were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of KHC. Charles Schwab Investment Management Inc. lifted its position in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after acquiring an additional 545,504 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after buying an additional 58,665 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after purchasing an additional 238,913 shares during the last quarter. Easterly Investment Partners LLC grew its stake in shares of Kraft Heinz by 39.4% during the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after purchasing an additional 44,485 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Kraft Heinz by 12.6% in the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock valued at $17,132,000 after buying an additional 54,656 shares during the period. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup cut their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Stifel Nicolaus cut their target price on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $34.07.

Kraft Heinz Trading Down 2.0 %

Kraft Heinz stock opened at $28.70 on Wednesday. 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 12-month low of $28.37 and a 12-month high of $38.96. The firm has a 50 day moving average of $30.36 and a 200 day moving average of $33.00. The firm has a market capitalization of $34.70 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 3.82 and a beta of 0.47.

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.