Oprah Winfrey has sold part of her holdings in Weight Watchers International Inc. as part of a portfolio diversification and donated some shares to her foundation engaged in philanthropy.
The media mogul continues to be a significant shareholder of the New York-based weight-loss company as well as a board member, adviser and ambassador, according to the statement distributed by PR Newswire Tuesday.
She won’t sell additional shares this year.
“I am deeply committed to Weight Watchers and continue to see a bright future for the company,” Winfrey said in the statement, without disclosing the value of the stock she disposed of.
Shares of Weight Watchers, which climbed to a six-year high in February, have since dropped about 22 percent to close at $58.42 on Tuesday in New York.
In February, Weight Watchers said that it expected revenue to rise to over $2 billion by 2020, up more than 50% from its estimated sales last year.
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