Perigon Wealth Management LLC Buys New Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Perigon Wealth Management LLC purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,892 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds also recently modified their holdings of KHC. Sawyer & Company Inc acquired a new position in shares of Kraft Heinz in the fourth quarter valued at $25,000. Fortitude Family Office LLC raised its stake 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 valued at $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after acquiring an additional 797 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in shares of Kraft Heinz in the 3rd quarter valued at approximately $32,000. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on KHC. Barclays lowered their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a report on Thursday, October 31st. Piper Sandler reissued a "neutral" rating and issued a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Jefferies Financial Group dropped 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. Finally, Citigroup reduced their price objective on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $34.07.

Kraft Heinz Price Performance

KHC stock traded down $0.09 during mid-day trading on Wednesday, hitting $28.61. The stock had a trading volume of 17,802,883 shares, compared to its average volume of 9,495,625. The firm has a fifty day simple moving average of $30.29 and a 200 day simple moving average of $32.97. The firm has a market capitalization of $34.59 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.82 and a beta of 0.47. 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 52 week low of $28.31 and a 52 week high of $38.96.

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.