Peak Retirement Planning Inc. Buys Shares of 63,540 Kraft Heinz Company $KHC

Peak Retirement Planning Inc. purchased a new position in Kraft Heinz Company (NASDAQ:KHC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 63,540 shares of the company’s stock, valued at approximately $1,655,000.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Kraft Heinz in the 1st quarter worth about $207,000. Woodline Partners LP raised its holdings in shares of Kraft Heinz by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after buying an additional 20,690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kraft Heinz by 13.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 400,562 shares of the company’s stock worth $10,343,000 after buying an additional 46,085 shares during the last quarter. Hilltop National Bank purchased a new stake in Kraft Heinz in the second quarter worth approximately $41,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Kraft Heinz during the second quarter valued at approximately $230,000. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KHC shares. JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, January 21st. The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. Wells Fargo & Company reduced their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. TD Cowen lowered their target price on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Finally, HSBC dropped their target price on Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $26.16.

Kraft Heinz Price Performance

KHC opened at $23.50 on Tuesday. The stock has a market capitalization of $27.82 billion, a PE ratio of -6.30 and a beta of 0.08. The stock’s 50 day moving average price is $24.11 and its 200-day moving average price is $25.53. Kraft Heinz Company has a 52-week low of $21.99 and a 52-week high of $33.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13.

Insider Activity at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider owned 686,817 shares in the company, valued at $17,046,797.94. The trade was a 15.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.