The latest 13F filings show that Bill Gates' foundation trust and Warren Buffett's Berkshire Hathaway, now run by Greg Abel, had one stock in common in their portfolios as of the end of the second quarter: Kraft Heinz (NASDAQ:KHC). Berkshire held a big position that made up 2.6% of its book. The Gates Foundation stake in KHC was worth about $58.4 million.
So what's so special about this stock?
Steve Cahillane took over as Kraft Heinz CEO earlier this year to take up the job of turning around the company. The plan is showing signs of progress. Full-year organic sales guidance improved to a decline of 0.5% to 2%, up from a prior forecast of a decline of 1.5% to 3.5%. In the recent quarter, free cash flow rose 10% year over year, and the company raised its free cash flow conversion guidance to approximately 110% from 100%.
Berkshire Sticks Around
Berkshire Hathaway remaining the company's largest shareholder counts as a major vote of confidence. Some ******* ysts have pointed out that Kraft Heinz could become a takeover target for Berkshire or another large food company looking to add scale and cash flow through an accretive deal.
#berkshire #cash
So what's so special about this stock?
Steve Cahillane took over as Kraft Heinz CEO earlier this year to take up the job of turning around the company. The plan is showing signs of progress. Full-year organic sales guidance improved to a decline of 0.5% to 2%, up from a prior forecast of a decline of 1.5% to 3.5%. In the recent quarter, free cash flow rose 10% year over year, and the company raised its free cash flow conversion guidance to approximately 110% from 100%.
Berkshire Sticks Around
Berkshire Hathaway remaining the company's largest shareholder counts as a major vote of confidence. Some ******* ysts have pointed out that Kraft Heinz could become a takeover target for Berkshire or another large food company looking to add scale and cash flow through an accretive deal.
#berkshire #cash
3 months ago
