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NESTLÉ (NESN)
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Correction: Election 2018-House-Iowa-Steve King story

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11/09/2018 | 08:07pm CET

WASHINGTON — In a story Nov. 6 about the re-election of Iowa Rep. Steve King, The Associated Press reported erroneously that Purina Pet Care was a subsidiary of Land O'Lakes. Nestle Purina Pet Care is a subsidiary of Nestle SA.

A corrected version of the story is below:

Rep. King wins despite outcry over white supremacist support

Republican congressman Steve King has won a ninth term representing Iowa despite condemnation from his own party over his support of white supremacist groups and leaders

Republican congressman Steve King won a ninth term representing Iowa despite condemnation from his own party over his support of white supremacist groups and leaders.

King on Tuesday defeated Democratic newcomer J.D. Scholten, a former minor league baseball player who raised more money and spent months crisscrossing the 39-county district.

President Donald Trump won the Republican-heavy district by 27 percentage points in 2016, but King faced a competitive challenge from Scholten.

King had long tested the limits of the Republican Party's tolerance for fringe views, notably his harsh anti-immigration rhetoric. On Oct. 27, the day a gunman who had raged against Jews killed 11 people at a Pittsburgh synagogue, King defended the groups he had associated with, including Austria'sFreedom Party, which was founded by former Nazis.

In recent days, National Republican Congressional Committee Chairman Steve Stivers decried King's comments, saying, "We must stand up against white supremacy and hate in all forms." Several King financial backers withdrew their support, including Intel, Land O'Lakes and Nestle SA and its subsidiary Nestle Purina Pet Care.

King maintained his hard-line views on immigration and support of gun rights were in step with the conservative district.

He kept a low profile in the days before the election but denounced the attacks against him as "orchestrated by the nasty, desperate and dishonest fake news."

© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (CHF)
Sales 2018 91 522 M
EBIT 2018 15 265 M
Net income 2018 11 276 M
Debt 2018 27 806 M
Yield 2018 2,97%
P/E ratio 2018 22,54
P/E ratio 2019 21,01
EV / Sales 2018 3,12x
EV / Sales 2019 3,03x
Capitalization 258 B
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 87,1  CHF
Spread / Average Target 3,5%
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Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Executive Vice President-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer
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