The Kraft Heinz Company (NASDAQ:KHC) is Econ Financial Services Corp’s 10th Largest Position

Econ Financial Services Corp boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 111.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 122,813 shares of the company’s stock after purchasing an additional 64,670 shares during the quarter. Kraft Heinz comprises approximately 2.2% of Econ Financial Services Corp’s holdings, making the stock its 10th biggest position. Econ Financial Services Corp’s holdings in Kraft Heinz were worth $3,772,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz during the 4th quarter worth about $25,000. Fortitude Family Office LLC boosted its position in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Kraft Heinz in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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 50-day moving average price of $30.29 and a 200 day moving average price of $32.97. The Kraft Heinz Company has a 12-month low of $28.37 and a 12-month high of $38.96. The firm has a market capitalization of $34.70 billion, a P/E ratio of 25.86, a P/E/G ratio of 3.82 and a beta of 0.47.

Analysts Set New Price Targets

KHC has been the subject of a number of research analyst reports. Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. 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 research report on Wednesday, January 29th. Finally, TD Cowen decreased their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $34.07.

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.