The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 75.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 298,413 shares of the company’s stock after selling 937,984 shares during the quarter. Bridgewater Associates LP’s holdings in Kraft Heinz were worth $10,477,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after acquiring an additional 1,778,263 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in shares of Kraft Heinz by 387.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company’s stock valued at $51,086,000 after buying an additional 1,156,712 shares in the last quarter. Marshall Wace LLP grew its stake in Kraft Heinz by 260.8% in the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after acquiring an additional 845,490 shares during the period. Poplar Forest Capital LLC acquired a new stake in Kraft Heinz in the 2nd quarter valued at $26,353,000. Finally, Legal & General Group Plc increased its holdings in Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after acquiring an additional 799,581 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $31.93 on Friday. The business’s 50 day moving average price is $33.83 and its 200 day moving average price is $34.16. The company has a market cap of $38.61 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 3.66 and a beta of 0.49. 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 Kraft Heinz Company has a one year low of $30.40 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.01%. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KHC shares. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $36.55.

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.