Old North State Wealth Management LLC Has $2.54 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Old North State Wealth Management LLC increased its position in The Kraft Heinz Company (NASDAQ:KHC) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,510 shares of the company’s stock after purchasing an additional 5,972 shares during the period. Kraft Heinz makes up 1.4% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Old North State Wealth Management LLC’s holdings in Kraft Heinz were worth $2,535,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz during the third quarter valued at about $411,304,000. State Street Corp boosted its stake in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the period. Geode Capital Management LLC lifted its stake in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after acquiring an additional 1,944,019 shares during the period. Nordea Investment Management AB lifted its stake in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Kraft Heinz by 1,139.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock worth $39,112,000 after acquiring an additional 1,170,814 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Trading Down 2.0 %

Shares of KHC 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 firm has a market capitalization of $34.70 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 3.82 and a beta of 0.47. The stock’s fifty day simple moving average is $30.36 and its 200 day simple moving average is $33.00. The Kraft Heinz Company has a twelve month low of $28.37 and a twelve month high of $38.96.

Wall Street Analyst Weigh In

KHC has been the subject of several analyst reports. Jefferies Financial Group reduced their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Finally, Evercore ISI reissued an “in-line” rating and set a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $34.07.

Kraft Heinz Company Profile

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.