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Top Insider Buys Highlight for the Week of Dec. 4

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GuruFocus.com
·4 min read
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- By Shuda Xia

The largest insider buys this week were in The Kraft Heinz Co. (NASDAQ:KHC), Hormel Foods Corp. (NYSE:HRL), Icahn Enterprises LP (NASDAQ:IEP) and Black Knight Inc. (NYSE:BKI).

Kraft Heinz director bought 90,000 shares

Director Elio Leoni Sceti bought 90,000 shares of Kraft Heinz on Dec. 2 for an average price of $33.22. The share price has increased by 2.71% since then.


Kraft Heinz is an American food processing company that was formed by the merger of Kraft Foods and Heinz in 2015. The company is the third-largest food and beverage company in North America and the fifth-largest in the world. The company has a market capitalization of $41.72 billion; as of Dec. 4, it traded at $34.12.

On Oct. 29, Kraft Heinz reported financial results for the third quarter of 2020. Net sales for the quarter totaled $6.441 billion, representing a 6% increase from the prior-year quarter. Gross profit totaled $2.344 billion, representing a 20.4% increase compared to a year ago. Operating Income totaled $1.147 billion, representing a 2.8% decrease.

Hormel Foods senior vice president bought 6,873 shares

Senior Vice President Steven J. Lykken bought 6,873 shares of Hormel on Dec. 2 for an average price of $46.97. Since then, the stock has risen 0.87%.

Hormel Foods is an American food processing company that focuses on producing and selling packaged and refrigerated foods. The company serves customers in 80 countries through brands such as Applegate, Columbus Craft Meats, Dinty Moore, Skippy and Jennie-O. The company has a market capitalization of $25.57 billion; as of Dec. 4, it traded at $47.38.

On Nov. 24, Hormel Foods reported financial results for the fourth quarter of fiscal 2020. Net sales totaled $9.6 billion, representing a 1% increase from the year-ago quarter. Operating income totaled $1.1 billion, representing a decrease of 8%. Diluted earnings per share were $1.66, representing a decrease of 8%.

Icahn Enterprises director bought 16,723 shares

Director A. B. Krongard bought 16,723 shares of Icahn Enterprises on Dec. 1 for an average price of $50.03. The stock has gained 1.9% since then.

Icahn Enterprises is an American conglomerate that has investments in various industries, including auto parts, energy, casinos, real estate and home fashion. The company is controlled by Carl Icahn (Trades, Portfolio), who owns 95% of the company. The company has a market capitalization of $11.83 billion; as of Dec. 4, it traded at $50.98.

On Nov. 6, Icahn Enterprises reported financial results for the third quarter of fiscal 2020. Revenue totaled $722 million, compared to $2.3 billion in the prior-year quarter. Net loss totaled $714 million, or $3.14 per depositary unit, compared to a net loss of $49 million, or 24 cents per depositary unit, last year.

Black Knight director bought 2,222 shares

Director Joseph M. Otting bought 2,222 shares of Black Knight on Dec. 2 for an average price of $90. The share price has decreased 1.27% since then.

Black Knight is an American financial services company that focuses on providing integrated technology, services, data and analytics to the mortgage and real estate industries. The company is a component of the Russell 1000. The company has a market capitalization of $13.95 billion; as of Dec. 4, it traded at $88.86.

On Dec. 2, Black Knight announced the company's Optimal Blue Product, Pricing and Eligibility engine has been improved to support the pricing of Home Equity Lines of Credit (HELOC) for the secondary mortgage market. This improvement includes search capabilities for first- and second-lien HELOC products that automate workflows within the pricing engine. This will allow mortgage lenders to provide their customers with better home equity options and execute the most profitable lending strategies.

For the complete list of stocks that were bought by their company executives, go to Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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This article first appeared on GuruFocus.