Your favorite ketchup brand will soon be coming under a new high profile owner. Last week, Warren Buffett’s company Berkshire Hathaway (BRK.A) announced that they would be buying H.J. Heinz Company (HNZ) for $28 billion. The transaction, which is currently taking place at about a twenty percent premium of the announcement day closing price, will be completed by the third quarter of this year.
The company is being purchased from a position of strength, as it is currently in the midst of thirty consecutive months of top line growth and has recently experienced an all-time high in share price. Additionally, over the last ten years, Heinz has consistently outperformed both the S&P 500 benchmark and the S&P 500 Packaged Foods Index. For fiscal year 2013, the company is on pace to accumulate $5.6 billion in annual sales and $800 million in income.
Berkshire Hathaway has made a point to keep in place many of the cultural factors that have led to Heinz’s success. For one, Pittsburgh will remain the headquarters for the company and they will continue many of the firm’s philanthropic initiatives. Buffett hopes that this will build on the firm’s profitable track record, including the rapid expansion into overseas markets that has occurred over the last decade.
Business Section: Investment Ideas
Nothing can help a company’s stock price like the golden touch of Warren Buffett, and do not be surprised if Heinz experiences a bullish run as well.
If you are thinking about now investing in Heinz because Buffett is, then you may be in interested in what other stocks Buffett holds. We have assembled a list featuring the top ten Berkshire Hathaway holdings based upon holdings value to help you start your research.
1. Wells Fargo & Company (WFC, Earnings, Analysts, Financials): Provides retail, commercial, and corporate banking services primarily in the United States. Market cap at $185.06B, most recent closing price at $35.14.
3. International Business Machines Corp. (IBM, Earnings, Analysts, Financials): Provides information technology (IT) products and services worldwide. Market cap at $226.35B, most recent closing price at $200.32.
4. American Express Company (AXP, Earnings, Analysts, Financials): Provides charge and credit payment card products, and travel-related services worldwide. Market cap at $69.7B, most recent closing price at $62.28.
(List compiled by Kapitall's Dan Connelly)
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- The Coca-Cola Company (KO, Chart, Download SEC Filings)
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- American Express Company (AXP, Chart, Download SEC Filings)
- Procter & Gamble Co. (PG, Chart, Download SEC Filings)
- Wal-Mart Stores Inc. (WMT, Chart, Download SEC Filings)
- U.S. Bancorp (USB, Chart, Download SEC Filings)
- Phillips 66 (PSX, Chart, Download SEC Filings)
- DIRECTV, Inc. (DTV, Chart, Download SEC Filings)
- DaVita, Inc. (DVA, Chart, Download SEC Filings)
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