|Bid||0.00 x 1200|
|Ask||0.00 x 4000|
|Day's Range||30.43 - 31.46|
|52 Week Range||19.99 - 33.43|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||20.15|
|Earnings Date||Aug 06, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||1.60 (5.25%)|
|Ex-Dividend Date||May 28, 2020|
|1y Target Est||31.21|
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]
Moody's Investors Service ("Moody's") assigned a B2 rating to H-Food Holdings, LLC's (Hearthside) proposed $100 million senior secured first lien term loan due 2025. Concurrently, Moody's affirmed the company's B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating (PDR). In addition, Moody's also affirmed the B2 (LGD3) ratings for the company's $225 million first lien secured revolving credit facility and $1.6 billion senior secured first lien term loan.
Wells Fargo analyst John Baumgartner raised his target for the stock’s price and increased his forecast for the food company’s earnings.
(Bloomberg Opinion) -- The amount of new debt issued this year in the U.S. investment-grade corporate bond market will reach $1 trillion today, by far the fastest pace in history. The implications of that milestone depend on how you look at it.For businesses that had been ravaged by the coronavirus pandemic and the ensuing nationwide lockdowns, access to capital markets was a lifeline to get through the worst of the economic collapse. Sure, Carnival Corp. had to offer interest rates like a junk-rated borrower and Boeing Co. needed to include a so-called coupon step-up provision to offset jitters that it could lose its investment grades. But, in the words of Federal Reserve Chair Jerome Powell, these deals avoided turning “liquidity problems into solvency problems” for brand-name American companies.It’s worth remembering that until the Fed stepped in with extraordinary support for credit markets, averting widespread failures was far from guaranteed. Investors pulled a staggering $35.6 billion and $38 billion from investment-grade funds in the weeks ended March 18 and March 25, respectively. Before 2020, the previous record was $5.1 billion of outflows. I wrote on March 19 that bond markets were veering into a vicious cycle that could get ugly in a hurry — four days later, the Fed announced what would end up becoming a $750 billion backstop for corporate America.Now, the Fed hasn’t actually had to buy any individual bonds yet, a fact that Powell seems proud to share. “We may have to be lending money to those companies, but even better, they can borrow themselves now, and a lot of that has been happening and that’s a really good thing,” he said during May 19 testimony before the Senate Banking Committee.Most people would probably agree with that assessment, at least for the immediate future as the country grapples with restarting the world’s largest economy. But what about the longer-term view?Here, the rampant borrowing paints a more sobering picture. As of late April, 1,287 issuers worldwide rated between AAA and B- by S&P Global Ratings were considered at risk of a potential downgrade, up from 860 in March and 649 in February. That surpasses the previous all-time high set in 2009. “Generally, we expect heavy credit erosion in coming months as issuers, especially those in the lower-rated spectrum come under heavy fire from poor earnings, continued difficulties in managing cost structures, and market volatility creating limited funding opportunities,” said Sudeep Kesh, head of S&P’s credit markets research.That’s bad enough, but doesn’t even strike at the heart of the issue. Last year was supposed to be the beginning of a broad “debt diet” among companies that borrowed huge sums to finance mergers and acquisitions during the longest expansion in U.S. history. That didn’t end up taking place on a wide scale. Even a success story like AT&T Inc., which made headway in trimming its debt stack, still found itself back in the bond market recently, borrowing $12.5 billion on May 21 in what was the biggest deal since Boeing’s $25 billion blockbuster offering.When it comes to companies directly impacted by the coronavirus pandemic or structural changes to their industries, the “big three” of S&P, Moody’s Investors Service and Fitch Ratings haven’t shied away from taking action. Ford Motor Co., Kraft Heinz Co., Macy’s Inc. and Occidental Petroleum Corp. are just a few of the “fallen angels” that lost their investment grades earlier this year.The rating companies haven’t been quite as keen to react to high leverage metrics. I frequently refer back to this feature from Bloomberg News’s Molly Smith and Christopher Cannon, which found that of the 50 biggest corporate acquisitions in the five years through October 2018, more than half of the acquiring companies increased their leverage to a level that would seemingly merit a junk rating but remained investment grade on the assumption that they’d take that leverage down in the coming years. Those expectations seemed ambitious in 2018, when the economy was seemingly invincible. Now, no one can truly expect companies to focus on right-sizing their debt. Corporate leaders are rightfully eager to raise cash to get to the other side of the pandemic, especially with all-in yields not far off from record lows. The vast majority of the $1 trillion in borrowing so far this year was by no means imprudent.In the years ahead, however, the overhang from this issuance spree will inevitably weigh down credit ratings. A company with more debt presents a greater risk of missed interest payments than if it had fewer fixed obligations. Fortunately, for much of the previous expansion, firms had no issue finding investors willing to buy their long-term securities. That practice of rolling over debt and extending maturities might very well be the norm in the months and years ahead, too. Still, if the first five months of 2020 are any indication, investment-grade bondholders will have to get comfortable with even more bloated balance sheets and the prospect of further credit downgrades. For better or worse, with the confidence that the Fed has their back, that seems like a risk investors are willing to take.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Kimberly-Clark (KMB) has been witnessing higher consumer demand for its products amid the coronavirus outbreak. Also, the company's cost-saving efforts are yielding results.
Last week I wrote that this was the end of the Warren Buffett era as Berkshire (BRK)(BRK) underperformed the S&P 500 (SPX) over the entire 2009-2020 bear market. Many Buffett fans responded by saying don’t count Buffett out yet because when (not if) the market tanks again, he’ll have more than $130 billion in cash to scoop up bargains. Based on Berkshire’s SEC filings, three of Buffett’s biggest recent investments—Kraft Heinz (KHC) , Occidental Petroleum (OXY) , and airline stocks—have lost at least $7 billion altogether out of an investment of roughly $10 billion in each.
As many on Wall Street were running for the exits in March, some of the best investors in the world, including Seth Klarman, Bill Ackman, David Einhorn, and Bruce Berkowitz, were scooping up deals. Here's why they saw value in Facebook (NASDAQ: FB), Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), and Kraft Heinz (NASDAQ: KHC) during the recent bear market.
The world's most legendary investor doesn't exactly heed one of the most embraced tenets of building a portfolio.
Grant & Eisenhofer, P.A. announces that the Court has issued a order announcing that the March 28, 2020 notice informing investors of their right to seek appointment as lead plaintiff in a securities class action filed by Grant & Eisenhofer on behalf of City of Hollywood Police Officers' Retirement System against Kraft Heinz (NASDAQ: KHC), certain of its current and former senior executives, and 3G Capital, Inc. and its related affiliates, will be vacated. That action is captioned City of Hollywood Police Officers' Retirement System v. The Kraft Heinz Company, et al., 1:20-cv-01970 (N.D. Ill.) (the "Hollywood Police Action").
The Kraft Heinz Company (NASDAQ:KHC) shareholders should be happy to see the share price up 13% in the last quarter...
Kraft Heinz (NASDAQ: KHC) has generally been an underperforming stock in recent years, yet on Monday it closed nearly 6% higher. Bank of America analyst Bryan Spillane now believes Kraft Heinz is a buy, with a new price target of $38 per share. Kraft Heinz stands to benefit from dramatic changes in the consumer landscape in the wake of the coronavirus pandemic.
Kraft Heinz Co (NASDAQ: KHC) is trading at a 40% valuation discount versus its peers and represents a good buying opportunity for investors, according to BofA Securities.The Kraft Heinz AnalystBryan Spillane upgraded Kraft Heinz's stock from Neutral to Buy with a price target lifted from $32 to $38.The Kraft Heinz ThesisSpillane said Kraft's valuation discount compared to its packaged food rivals is in part due to a lack of confidence in management's strategy change, little trust in its product portfolio, and question marks related to the balance sheet and dividends. But management started to address these concerns in 2019 and is now well-positioned to not only take advantage of the current eat at home trend but adjust itself to future recessions and other changes.In terms of the balance sheet, Spillane said the company has enough cash to maintain its current dividend yield of 5.4%. Management was active over the past eight months refinancing existing debt and it has just $1.5 billion in maturities due from now through fiscal 2027. The company still generates $700 million of cash after factoring in dividends and debt obligations which makes the case for market confidence to improve.The research firm's revised $38 price target is based on 15 times 2021 EPS estimate, which is still a discount to the packaged food group at 16 times but implies the performance gap versus its rivals "is closing," the analyst wrote in the note.KHC Price ActionShares of Kraft Heinz were trading higher by 5.6% at $30.86 at time of publication.Related Links:A Look At Consumer Shopping Priorities During Coronavirus Pandemic8 Dividends In Danger Of Being CutLatest Ratings for KHC DateFirmActionFromTo May 2020B of A SecuritiesUpgradesNeutralBuy May 2020StifelMaintainsHold May 2020Credit SuisseMaintainsUnderperform View More Analyst Ratings for KHC View the Latest Analyst RatingsSee more from Benzinga * A Look At Consumer Shopping Priorities During Coronavirus Pandemic(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Bank of America upgraded shares of Kraft Heinz on Monday. There are more gains ahead for the packaged-food giant, according to the broker.
Kraft Heinz (NASDAQ: KHC) is attracting more positive investor sentiment. The stock just received an upgrade from a Bank of America analyst, who sees a good chance that shares will rise to $38 in the near term.
The Kraft Heinz Company ("Kraft Heinz") (Nasdaq: KHC) today announced the early tender results of the previously announced offer by its 100% owned operating subsidiary Kraft Heinz Foods Company (the "Issuer") to purchase for cash (the "Tender Offer") any validly tendered (and not subsequently validly withdrawn) notes up to a combined aggregate purchase price (excluding accrued and unpaid interest) of $2.2 billion (the "Maximum Tender Amount") of its outstanding Floating Rate Senior Notes due February 2021 (the "February 2021 Notes"), 3.500% Senior Notes due June 2022 (the "June 2022 Notes"), 3.500% Senior Notes due July 2022 (the "July 2022 Notes"), Floating Rate Senior Notes due August 2022 (the "August 2022 Notes"), 4.000% Senior Notes due June 2023 (the "June 2023 Notes"), 3.950% Senior Notes due July 2025 (the "July 2025 Notes") and 3.000% Senior Notes due June 2026 (the "June 2026 Notes," and together with the February 2021 Notes, the June 2022 Notes, the July 2022 Notes, the August 2022 Notes, the June 2023 Notes and the July 2025 Notes, the "Notes" and each, a "Series" of Notes). Kraft Heinz also announced that, with respect to the Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 15, 2020 (the "Early Tender Time"), the Issuer will elect to make payment for such Notes on May 19, 2020 (the "Early Settlement Date").
When it comes to investing, Warren Buffett, chairman of Berkshire Hathaway (BRK) is unquestionably the greatest who ever lived, posting an extraordinary record over more than five decades. From 1965 through 2018, Berkshire racked up a 20.5% compound annual return, more than double that of the S&P 500 (SPX) including dividends. Buffett also is a beloved multibillionaire in an age when the superrich are vilified.
Hostess Brands CEO Andy Callahan tells Yahoo Finance people continue to fill their pantries with donuts and Twinkies amidst the COVID-19 pandemic.
The novel coronavirus has hit Anheuser-Busch InBev (NYSE:BUD) particularly hard. With a rally off March lows fading, Anheuser-Busch stock now is down more than half so far in 2020.Source: legacy1995 / Shutterstock.com It's a more stunning decline than an investor might think. Excluding travel, financials and retailers, BUD has been the worst large-cap stock of 2020.And it's not as if Anheuser-Busch stock roared into the year. Shares did post a nice rally in 2019 -- but off a six-year low reached the prior December. Heading into 2020, BUD still was nearly 40% below 2016 levels.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere are both short- and long-term reasons for the selling pressure. But before last week's earnings report, I argued that Anheuser-Busch stock was a buy if it retested March lows. We're getting close to those lows. At this point, and after earnings, I believe Anheuser-Busch stock is a buy. A Short-Term HitUnquestionably, Anheuser-Busch is taking a short-term hit from coronavirus-driven fears. As I noted earlier this month, the company is getting a boost in off-premise (takeaway) sales. Data from Nielsen showed a nearly 10% increase over four weeks. * 20 Stocks to Buy If You're Still Betting on America to Thrive Of course, the off-premise business is getting slammed worldwide. Bars, restaurants, stadiums and other venues are closed. Sales have fallen so far that there are legitimate concerns about how brewers will dispose of stale beer.The impact was seen in BUD's first-quarter report last week. Revenue declined 5.8% for the quarter. But volume actually was up 1.9% in the first two months. Given higher pricing, revenue grew even faster.Indeed, revenue per hectoliter rose nearly 4% in the quarter. That suggests that revenue in January and February was up close to 6% -- while March sales fell in the range of 25%. The news for April was worse: a 32% decline in global volume.Unsurprisingly, adjusted earnings (what Anheuser-Busch calls "underlying profit") fell 30% year-over-year in Q1. The second quarter will be worse. The problem with the brewing industry is that costs don't come down all that much along with volume. The brewery still needs to operate; labor savings are minimal. Even gross margins fall when volumes come down.And so this crisis in 2020 is a multibillion-dollar problem for Anheuser-Busch. There's no two ways about it. Longer-Term WorriesAgain, that comes after Anheuser-Busch stock already had its struggles. The rise of craft beer worldwide created literally thousands of new competitors. The number of breweries in the U.S. alone almost doubled between 2014 and 2018.As a result, sales for BUD and other mega-brewers have stalled out. Indeed, Molson Coors (NYSE:TAP) has seen its stock fall even further, and its shares are retesting an 11-year low.In addition to the pressure on the industry, Anheuser-Busch's acquisition of SABMiller put tens of billions of dollars in debt on the balance sheet. So, it's not a surprise that BUD stock struggled even before the current crisis. The Case for Anheuser-Busch Stock at the LowsAll that said, price matters. Value matters.And I'd keep this in mind: Anheuser-Busch stock has lost a stunning $65 billion in market value so far in 2020.Again, the short-term hit is significant in terms of lost sales and profits. But it's not $65 billion significant. It's nothing close to that.And as far as the long-term impact goes, I'm skeptical it's all that negative. Normalcy will return. Bars and restaurants already are starting to reopen, if cautiously so.Many craft competitors unfortunately won't do the same. What we're seeing in sectors like tech is a realization that size and scale are enormous benefits in a time of turmoil. Anheuser-Busch has that size and scale.Elsewhere in the beverage industry, investors seem to have that understanding. Coca-Cola (NYSE:KO) estimated a global volume decline of 25% for the first three weeks of April. Its stock is down just 21% this year, a performance some thirty points better than that of BUD.Kraft Heinz (NASDAQ:KHC) is another consumer giant with heavy leverage. Its shares are down 10% YTD. Boston Beer (NYSE:SAM) stock actually has soared, and sits at an all-time high.To be sure, I'm not arguing that BUD stock should be positive amid the crisis. I'm not even convinced that Anheuser-Busch stock should be tracking Coke.But, again, outside of the hardest-hit sectors, BUD has been the worst large-cap stock of 2020. I simply don't think the long-term outlook supports that kind of decline. Investors will figure that out soon enough.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Anheuser-Busch Stock Makes a Solid Buy at Current Lows appeared first on InvestorPlace.
Fasten your meatbelts, NASCAR fans! Not only is NASCAR returning, but the iconic duo, Oscar Mayer and driver Ryan Newman, are back on the track at Darlington Raceway on Sunday, May 17.