Top 15 Consumer Staples Stocks According to Hedge Funds

Page 4 of 15

12. The Kraft Heinz Company (NASDAQ:KHC)

Number of Hedge Fund Holders: 46

The Kraft Heinz Company (NASDAQ:KHC) ranks among the top consumer staples stocks according to hedge funds. On June 25, Goldman Sachs raised its rating of The Kraft Heinz Company (NASDAQ:KHC) from Sell to Neutral, citing a more balanced risk-reward view following the company’s announcement of its ongoing evaluation of strategic transactions. The firm also raised the priced target to $27 from $25.

The update comes after The Kraft Heinz Company (NASDAQ:KHC) announced on May 20 that it was looking into strategic options. At the same time, two board members representing Berkshire Hathaway, the company’s largest shareholder, resigned. Media sources imply that Berkshire may sell off its 27.5% stake, which might open the door for asset divestitures. Oscar Mayer and the company’s coffee division have been mentioned in earlier reports as possible targets, which may free up funds for share buybacks.

The Kraft Heinz Company (NASDAQ:KHC) is a global leader in food and beverage production that was founded in 2015 by the merger of Kraft Foods and Heinz. The company makes a variety of items, including dairy, meat, sauces, drinks, and other commodities.

Page 4 of 15