Bridgewater Associates LP Sells 937,984 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Bridgewater Associates LP reduced its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 75.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 298,413 shares of the company's stock after selling 937,984 shares during the period. Bridgewater Associates LP's holdings in Kraft Heinz were worth $10,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock valued at $186,350,000 after buying an additional 545,504 shares during the last quarter. Clifford Capital Partners LLC increased its stake in shares of Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company's stock worth $14,656,000 after purchasing an additional 80,101 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Kraft Heinz by 52.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company's stock worth $5,988,000 after purchasing an additional 58,665 shares during the period. Easterly Investment Partners LLC lifted its position in Kraft Heinz by 39.4% during the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company's stock valued at $5,529,000 after purchasing an additional 44,485 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Kraft Heinz by 1,760.8% during the third quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company's stock valued at $23,008,000 after purchasing an additional 620,096 shares during the period. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

Shares of KHC traded up $0.04 during mid-day trading on Friday, hitting $31.97. 5,883,760 shares of the stock were exchanged, compared to its average volume of 8,002,303. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The company has a market cap of $38.66 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The firm has a 50-day moving average of $33.83 and a two-hundred day moving average of $34.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Kraft Heinz's revenue was down 2.8% on a year-over-year basis. On average, equities analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.00%. Kraft Heinz's dividend payout ratio is currently 144.14%.

Insiders Place Their Bets

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company's stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler reaffirmed 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 target on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and dropped their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz has an average rating of "Hold" and a consensus target price of $36.55.

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.