10 Best Stocks to Buy According to Billionaire Warren Buffett

8. Kraft Heinz Co (NASDAQ:KHC)

Portion of portfolio: 3.74%

Value of holdings: $10,000,245,261

The Kraft Heinz Company (NASDAQ:KHC) is an American multinational food company boasting a vast lineup of iconic food and beverage brands. Being successful in adapting omnichannel strategies in a number of global markets, Kraft Heinz ventured into the alcohol market via its brand Crystal Lights, announcing in March the introduction of its new vodka seltzers at select retailers in the Northeast U.S.

Simultaneously, the processed-food giant continues to leverage AI and machine learning as part of its Agile@Scale Initiative aimed at improving the company’s supply chain efficiency, product quality and visibility. Kraft Heinz Lighthouse, the company’s control tower set up in collaboration with Microsoft allows America’s famed ketchup and bologna seller to make data-driven decisions in real-time based on information and visibility across its supply chain.

Buffett maintained his existing position in Kraft Heinz Company in the fourth quarter holding 325,634,818 of its shares.

Fourth-quarter earnings report released on February 12 showed a 4.1% year-over-year dip in revenue to $6.58 for the Jell-O maker, missing the $6.66 billion FactSet consensus estimate. The company cited “continued shifts in consumer behavior due to economic uncertainty” as well as a decline in its Lunchables packaged sandwiches and snacks. That said, earnings per share totaled $0.84 was above analysts’ estimate of $0.78. In its core US market, net sales declined 3.9% compared to the previous year, with price hikes only partially offsetting lower sales volumes.

Over the last five years, the company, which has earned its place on Warren Buffett’s top portfolio holdings list, has been paying down its debt while improving operating cash flow. The cash flow to debt ratio has increased from 0.1 to 0.2 over the same period.

On March 17, The World Association of Chefs Societies (Worldchefs), a global association of professional culinary associations partnered with Kraft Heinz allowing it to invest in culinary professionals as well as deliver training through Worldchefs’ educational programs.

Year-to-date The Kraft Heinz Company’s stock has lost 3.35% of its value and has traded at $29.68 on April 24 at the time of writing.