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Top Insider Buys Highlight for the Week of Sept. 20

The largest insider buys this week were for The Kraft Heinz Co. (NASDAQ:KHC), Dominion Energy Inc. (NYSE:D), Keurig Dr Pepper Inc. (NYSE:KDP) and AbbVie Inc. (NYSE:ABBV).

Kraft Heinz director bought 250,000 shares

Director Alexandre Van Damme bought 250,000 shares on Sept. 18 for an average price of $28.45. The share price has decreased 1.09% since then.


The American international food processing company 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. In 2018, the company had annual sales of $26.2 billion. The company has a market capitalization of $34.33 billion; as of Sept. 20, it traded at $28.14.

On Sept. 11, Kraft Heinz announced that its wholly-owned subsidiary, Kraft Heinz Foods, has commenced an offer to purchase for cash up to the maximum purchase price of $1 billion of its outstanding 3.5% senior notes due June 2022, 3.5% senior notes due July 2022 and 4% senior notes due 2023, among others. The tender offer will expire on Oct. 8.

Dominion Energy director bought 21,400 shares

Director Michael E. Szymanczyk bought 21,400 shares on Sept. 13 for an average price of $78.85. The stock has gained 2.52% since then.

The American power and energy company supplies electricity in Virginia and North Carolina and supplies natural gas to parts of West Virginia, Ohio, Pennsylvania and eastern North Carolina. The company also holds generation facilities in the states of Illinois, Indiana, Connecticut and Rhode Island. The company has a market capitalization of $38.43 billion; as of Sept. 20, it traded at $27.32.

On Sept. 19, Dominion Energy announced it is proposing the largest offshore wind development in the U.S. to provide more renewable energy to the company's clients on the East Coast. The proposal includes more than 2,600 megawatts of wind energy by 2026 off the coast of Virginia and more than 220 wind turbines. The project supports the company's commitment to reduce carbon emissions by 55% by 2030.

Keurig Dr Pepper chief human resources officer bought 6,000 shares

Chief Human Resources Officer Mary Beth Denooyer bought 6,000 shares on Sept. 17 for an average price of $27.69. The share price has declined 1.34% since then.

Keurig Dr Pepper is an American beverage conglomerate. Its East-coast division sells coffee, beverages and Keurig brewers. As of July 2018, the company also sells sodas, juices and other soft drinks from its Dr. Pepper Snapple division in Texas. The company has a market capitalization of $38.43 billion; as of Sept. 20, it traded at $27.32.

On Aug. 8, Keurig Dr Pepper reported financial results for the second quarter. Net sales grew 196% from the prior-year quarter to $2.81 billion and operating income increased 251% to $587 million. Likewise, earnings per diluted share for the quarter increased 120% to 22 cents. These results were significantly impacted by the merger of Keurig Green Mountain and Dr Pepper Snapple Group, which was completed in July of 2018.

AbbVie vice chairman bought 25,000 shares

Vice Chairman Laura J. Schumacher bought 25,000 shares on Sept. 16 for an average price of $70.42. The stock has gained 2.8% since then.

The international pharmaceutical company focuses on discovering, developing, and marketing both biopharmaceuticals and small molecule drugs. The company was created in 2013 as a spinoff of Abbott Laboratories (ABT). The company has a market capitalization of $107.03 billion; as of Sept. 20, it traded at $72.39.

On Aug. 16, AbbVie announced the U.S. Food and Drug Administration approved RINVOQ for the treatment of adults with moderately to severely active rheumatoid arthritis who have had intolerance to methotrexate. RINVOQ is a 15 milligram once-daily oral Janus kinase inhibitor.

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

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

This article first appeared on GuruFocus.