12 Best Chocolate Stocks to Buy According to Hedge Funds

4. The Kraft Heinz Company (NASDAQ:KHC) 

Number of Hedge Fund Holders: 38

Leading the food and beverage industry worldwide, The Kraft Heinz Company (NASDAQ:KHC) sells cheese, sauces, condiments, and drinks. One of its established brands is Baker’s, a reputable name in chocolate baking. Baker’s continues to be an important part of the company’s varied product line, offering exceptional baking products to both professionals and home bakers.

The Kraft Heinz Company (NASDAQ:KHC) was created by the 2015 merger of Kraft and Heinz; however, it hasn’t produced the expected results. It is currently modifying its approach by removing underperforming products and focusing on its core offerings as a result. Despite these difficulties, the company’s solid cash position should reassure income investors. The firm had strong cash creation in its most recent quarter, as evidenced by its year-to-date operating cash flow, which increased 6.7% to $2.8 billion over the prior year. Free cash flow increased by 9.7% year over year to $2 billion.

The Kraft Heinz Company (NASDAQ:KHC) reported mixed Q3 of 2024 results overall, continuing to lag behind analyst projections. Its revenue for the same period last year was 2.85% lower, at $6.38 billion. Nonetheless, the business’s gross profit margin improved, increasing by 20 basis points to 34.2%.

The Kraft Heinz Company (NASDAQ:KHC) is committed to making investments in technology, marketing, and R&D in order to support future revenue growth and offer consumers value-driven solutions. The company’s ability to sustain solid cash flow and streamline operations supports these initiatives. It is also dedicated to bringing its well-known and up-and-coming food and beverage businesses to a worldwide audience.

Warren Buffett’s Berkshire Hathaway was the largest stakeholder in the company among the funds in Insider Monkey’s database at the end of Q3 2024. It owns 325.63 million shares worth $11.43 billion as of Q3.