Five Consumer Non-Durables Stocks Billionaires Love

#3 Kraft Heinz Co (NASDAQ:KHC)

 – Billionaires with long positions (as of March 31): 13

 – Aggregate value of billionaires’ holdings (as of March 31): $2.72 billion

Amid an 8.7% rise in Kraft Heinz Co (NASDAQ:KHC)’s stock during the first quarter, its ownership among the billionaire investors that we track dipped by one, while the aggregate value of their holdings in it increased by a gargantuan $2.27 billion. Shares of Kraft Heinz Co (NASDAQ:KHC) were trading in the $70-to-$80 range for a long time after the completion of the Kraft/Heinz merger. However, they managed to break above that range last month after the company reported its first quarter earnings and are currently trading up by 15.15% in 2016. While analysts had expected Kraft Heinz to report EPS of $0.61 on revenue of $4.70 billion for the first quarter, the company managed to beat those estimates by a wide margin, declaring EPS of $0.73 on revenue of $6.57 billion. Following the earnings release, analysts at RBC Capital reiterated their ‘Outperform’ rating on the stock on May 5, while upping their price target on it to $92 from $88.

#2 The Coca-Cola Co (NYSE:KO)

 – Billionaires with long positions (as of March 31): 13

 – Aggregate value of billionaires’ holdings (as of March 31): $20.32 billion

Moving on, ownership of The Coca-Cola Co (NYSE:KO) among the billionaire investors in our system increased by three in the first quarter, while the aggregate value of their holdings in it also swelled, by $2.00 billion. Billionaire Jacob Rothschild‘s RIT Capital Partners was one of the hedge funds that initiated a stake in the company during the quarter, purchasing 412,000 shares of it. Though shares of the beverage giant have appreciated by 3.73% in 2016, they have been struggling to stay above the $46-level after breaking above it for the first time in April. The $0.35 per share quarterly dividend that Coca-Cola pays currently translates into a respectable annual dividend yield of over 3%. Earlier this month, the company announced that it, along with bottler Coca-Cola Femsa, has agreed to acquire Unilever’s soy-based beverage business, AdeS, for around $575 million.

#1 Mondelez International Inc (NASDAQ:MDLZ)

 – Billionaires with long positions (as of March 31): 15

 – Aggregate value of billionaires’ holdings (as of March 31): $4.09 billion

Though it’s the only stock in this list that is currently trading in the red for 2016, Mondelez International Inc (NASDAQ:MDLZ) was the most popular consumer non-durable stock among the billionaire investors covered by Insider Monkey at the end of the first quarter. Billionaire-led hedge funds that sold their stakes in the company during the first quarter included Paul Singer‘s Elliott Management, though overall ownership among billionaires rose by three during the quarter. Most analysts who track Mondelez International Inc (NASDAQ:MDLZ) are bullish on it, with the stock sporting an average rating of ‘Overweight’ and an average price target of $48.58 on it from the 24 leading analysts and research firms on the Street who track it. The consensus target price represents potential upside of 9.2% from the stock’s current price.

Disclosure: None