Kraft Heinz
Even in tough times, everyone has to eat, and this company stands to benefit. Kraft-Heinz Co. (NASDAQ: KHC) was formed six years ago via the merger of H.J. Heinz and Kraft Foods. The company is a leading global food company, with $29 billion of annual revenues generated by such well-known brands. It is the third-largest food and beverage manufacturer in North America, deriving 76% of revenues from that market and 24% internationally.
The company’s brands include not only Kraft and Heinz but also Oscar Meyer, Maxwell House, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta.
Buffett holds a massive position of this stock in the Berkshire Hathaway portfolio of 325 million shares.
Shareholders receive a 3.75% dividend. BofA Securities has set a $48 price target. The consensus target price of $40.79 is lower than Kraft Heinz stock’s close on Wednesday at $43.35.
Verizon
This top telecommunications stock offers tremendous value at current levels, and Berkshire Hathaway owns 158.8 million shares. Verizon Communications Inc. (NYSE: VZ) is one of the largest U.S. telecom companies. It provides wireless and wireline service to retail, enterprise and wholesale customers.
Verizon’s wireless network serves approximately 120 million mobile connections with 115 million postpaid subscribers. Its wireline business has undergone a period of secular decline due to wireless substitution and cable competition.
Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and it delivers integrated business solutions to customers worldwide.
Investors receive a 4.76% dividend. The target price on Verizon Communications stock at Cowen is $71. The consensus target is $60.64, and the stock ended Wednesday’s trading session at $54.41.
Given Warren Buffet’s proclivity for only owning the stock of companies that he understands inside and out, these five stocks make sense now for growth and income investors worried about the potential for a steep market decline. While they could sell off in a large correction, they will hold up far better than most companies, and they offer a solid future for patient investors.
Originally posted at 24/7 Wall St.
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