Berkshire Hathaway CEO Warren Buffett tells FOX Business’ Liz Claman that he paid too much for Kraft Heinz.
Warren Buffett’s Berkshire Hathaway has taken a stake in Kroger.
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According to SEC Filings, an 18.9 percent stake was disclosed in the nation’s largest grocer by revenue on Friday after the closing bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KR | KROGER | 28.23 | -0.40 | -1.40% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 226.80 | +0.33 | +0.15% |
Kroger shares jumped on the news in the extended session and are little changed for the year.
Buffett also owns stakes in other food-related companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KHC | KRAFT HEINZ COMPANY | 26.88 | -0.89 | -3.20% |
Kraft Heinz Co. has been struggling, and on Friday got hit with a downgrade from Fitch, slashing its credit score to BB+, the highest level of junk, in another blow to one of billionaire Buffett’s biggest stock holdings.
This pushed shares of the Chicago-based food giant to their lowest level since October. Buffett’s Berkshire Hathaway is Kraft’s largest shareholder, with a stake of 325.6 million shares, or 27% of the company.
Buffett disclosed Friday he also upped his stake in Kraft.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KO | COCA-COLA COMPANY | 59.95 | +0.34 | +0.57% |
Berkshire is also the largest shareholder in Coca-Cola and is often seen drinking a Coke.
REUTERS/Rick Wilking
Buffett also owns smaller stakes in Sees Candies and Dairy Queen.
FOX Business’ inquiries to Kroger were not immediately returned at the time of publishing.
Buffett’s taste for a grocer follows Amazon’s‘s purchase of Whole Foods back in 2017 for nearly $14 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 2,134.87 | -15.00 | -0.70% |
CEO Jeff Bezos is the world’s richest man, per Forbes, with a net worth of $129 billion. Buffett has slipped to fourth place with a net worth of $89 billion.
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Other portfolio moves Buffett disclosed late Friday include a 41 percent increase in shares Restoration Hardware, 3.8 increase in General Motors and a 153.5 jump in Occidental Petroleum, the company which is currently under fire from activist investor Carl Icahn.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RH | RH | 238.18 | -0.47 | -0.20% |
| OXY | OCCIDENTAL PETROLEUM CORPORATION | 41.60 | -0.44 | -1.05% |
| GM | GENERAL MOTORS COMPANY | 34.76 | -0.53 | -1.50% |
