Peak Retirement Planning Inc. Takes $1.66 Million Position in Kraft Heinz Company $KHC

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

A number of other hedge funds have also added to or reduced their stakes in KHC. Ashton Thomas Private Wealth LLC bought a new position in shares of Kraft Heinz in the first quarter valued at approximately $207,000. Woodline Partners LP grew its position in Kraft Heinz by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock worth $2,243,000 after purchasing an additional 20,690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 bought a new stake in Kraft Heinz during the second quarter worth $41,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Kraft Heinz during the 2nd quarter worth $230,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $23.50 on Tuesday. The firm’s 50 day simple moving average is $24.11 and its 200 day simple moving average is $25.53. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a 1-year low of $21.99 and a 1-year high of $33.35. The firm has a market capitalization of $27.82 billion, a PE ratio of -6.30 and a beta of 0.08.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KHC. Evercore ISI reduced their target price on shares of Kraft Heinz from $28.00 to $25.00 in a research report on Friday, January 9th. JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 21st. TD Cowen dropped their price target on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. UBS Group dropped their price objective on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Finally, BNP Paribas Exane lowered shares of Kraft Heinz from a “neutral” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $26.16.

Insider Transactions 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 stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the transaction, the insider directly 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 transaction 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.

About Kraft Heinz

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.