38.32 -9.86 (-20.46%)
Pre-Market: 5:25AM EST
|Bid||38.26 x 800|
|Ask||38.60 x 900|
|Day's Range||47.85 - 48.66|
|52 Week Range||41.60 - 70.01|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||5.70|
|Earnings Date||Feb 14, 2019 - Feb 18, 2019|
|Forward Dividend & Yield||2.50 (5.23%)|
|1y Target Est||56.00|
The gloomy results and forecast from the company, which is one of billionaire Warren Buffett's largest investments, reflect changes in consumer trends away from processed foods to healthier alternatives. The after-hours slump erased $12 billion (9.22 billion pounds) from Kraft Heinz's stock market value and left its shares trading at their lowest point since H.J. Heinz Co bought Kraft Foods Group Inc in 2015, to create the world's fifth largest food and beverage company. "Kraft Heinz results confirmed all our worst fears – plus more," Guggenheim Partners' analyst Laurent Grandet said in a note.
Europe's main benchmarks barely budged on Friday but company results including Sweden's Elekta, Switzerland's Sika and France's Sopra Steria drove big swings in stocks as investors awaited news from crucial U.S.-China trade talks. Shares in Sopra Steria topped the STOXX 600, up 16 percent after the French IT services and consulting firm reported full-year results and said it was targeting an improvement in margins this year. "This should help ease concerns of 'on-going pricing pressure' as the worst seems to be behind us now following the profit warning in Q3 2018," said Georgios Kertsos, an analyst at Berenberg.
shares are set to open at an all time low Friday after a dismal fourth quarter, coupled with an SEC notice and a grim 2019 outlook, loped more than $12 billion in market value from the packed food group in pre-market trading. Kraft Heinz said Thursday that it expects to "take a step backwards" this year after writing down the value of some of its key brands, including Kraft and Oscar Mayer, by as much as $15.4 billion. The group, which is one of Warren Buffett's key investments, sees 2019 earnings in the region of $6.3 billion to $6.5 billion, down 8.24% from last year at the higher end and well shy of the Street consensus forecast of $7.5 billion.
The packaged-food giant’s charge to reduce the goodwill value of the Kraft and Oscar Mayer trademarks and other assets, coupled with disappointing fourth-quarter earnings and an accounting subpoena from securities regulators, sent the shares tumbling toward what would be a record low if the declines hold in U.S. trading Friday. Formed in a 2015 merger orchestrated by Warren Buffett’s Berkshire Hathaway Inc. and the private equity firm 3G Capital, Kraft Heinz’s portfolio plays mainly in the center of the grocery store, an area hit hard by secular shifts in eating and shopping habits, and the one at greatest risk of being disrupted by Amazon.com Inc. The company, led by Chief Executive Officer Bernardo Hees, has tried to spruce up a tired suite of brands -- from organic Capri Sun to natural Oscar Mayer hot dogs.
China's Shanghai Composite has best week in nearly three years amid trade optimism and bets on further stimulus in the world's second largest economy. Global oil test fresh 2019 highs but gains are capped by record U.S. production rates, which hit 12 million barrels per day last week, and a build in domestic crude inventories. Kraft Heinz shares shed $12 billion in after-hours trading after weaker-than-expected fourth quarter earnings, an SEC notice and a grim 2019 profit outlook hammered shares in one of Warren Buffett's biggest investments.
Elekta tumbled as much as 13 percent after cutting its full-year Ebita margin forecast. AB InBev was down 2 percent and RBC had predicted the share price weakness due to its “shared DNA” with Kraft Heinz, after the U.S. company’s disappointing full-year results and an SEC investigation. Traders are bracing for an event-packed Friday as U.S. President Donald Trump is scheduled to meet with China’s top trade negotiator in Washington, with the two sides facing a March 1 deadline to avoid a further escalation in tariffs, and a speech by European Central Bank President Mario Draghi.
The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - Kraft Heinz Co on Thursday wrote down the value of its Kraft ...
The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Kraft Heinz Co, the food giant whose products include ...
MILWAUKEE , Feb. 22, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP announces an investigation of Kraft Heinz (Nasdaq: KHC) for possible violations of securities laws. If you lost money on your Kraft Heinz ...
Top stocks Trade Desk and Acacia Communications signaled moves above buy points on strong earnings. Kraft Heinz plunged on weak earnings and an SEC probe. Stamps.com crashed on guidance.
Kraft Heinz wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion, disclosed an investigation by the SEC and slashed its dividend. Apple and Goldman plan to issue a joint credit card paired with new iPhone features that will help users manage their money.
The gloomy results and forecast from the company, which is one of billionaire Warren Buffett's largest investments, reflect changes in consumer trends away from processed foods to healthier alternatives. The after-hours slump erased $12 billion from Kraft Heinz's stock market value and left its shares trading at their lowest point since H.J. Heinz Co bought Kraft Foods Group Inc in 2015, to create the world's fifth largest food and beverage company. "We expect to take a step backwards in 2019," Chief Financial Officer David Knopf told analysts on a post earnings conference call, promising "consistent profit growth" starting in 2020.
Kraft Heinz Co. on Thursday wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion, disclosed an investigation by federal securities regulators and slashed its dividend, sending its stock down more than 20% in after-hours trading. Kraft Heinz said it faced unexpectedly higher costs last year, and it has seen significant pressure on the value of its brands since its $49 billion merger in 2015. The write-down caused Kraft Heinz to swing to a fourth-quarter loss, marking a striking reversal after several years of radical cost-management efforts and higher profit margins that were seen as a model for the packaged-food industry.
Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of The Kraft Heinz Company investors (“Kraft Heinz” or the “Company”) (NASDAQ: KHC) concerning the Company and its officers’ possible violations of federal securities laws. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to email@example.com, or visit our website at www.glancylaw.com. On February 21, 2019, The company announced that it received a subpoena from the Securities and Exchange Commission in October regarding its “accounting policies, procedures, and internal controls related to its procurement function, including, but not limited to, agreements, side agreements, and changes or modifications to its agreements with its vendors.” On this news, shares of Kraft Heinz fell significantly, thereby injuring investors.
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of The Kraft Heinz Company resulting from allegations that Kraft Heinz may have issued materially misleading business information to the investing public.
Law Offices of Howard G. Smith announces an investigation on behalf of The Kraft Heinz Company investors (“Kraft Heinz” or the “Company”) (NASDAQ: KHC) concerning the Company and its officers’ possible violations of federal securities laws. On February 21, 2019, the company announced that it received a subpoena from the Securities and Exchange Commission in October regarding its “accounting policies, procedures, and internal controls related to its procurement function, including, but not limited to, agreements, side agreements, and changes or modifications to its agreements with its vendors.” On this news, shares of Kraft Heinz fell significantly, thereby injuring investors.
Kraft Heinz Inc. shares headed toward record lows in after-hours trading Thursday, after the giant food conglomerate delivered bad news with no condiments to sweeten it.
On a per-share basis, the Pittsburgh-based company said it had a loss of $10.34. Earnings, adjusted for asset impairment costs and restructuring costs, were 84 cents per share. The results fell short of ...
Kraft Heinz said the impairment charge was related primarily to its U.S. refrigerated-foods and Canadian retail divisions, as well as trademarks for its Kraft and Oscar Mayer brands — two of the company’s biggest moneymakers. While all the old guards of the supermarket aisles are struggling as consumers opt for fresher, less-processed and more on-the-go food items from upstart businesses, Kraft Heinz’s writedown may also speak to underinvestment in its brands. Kraft Heinz’s strategy has centered on debt-driven acquisitions and ruthless cost-cutting to create earnings growth and deliver margins that far surpassed peers, thus making up for shortfalls in revenue and internal investment.
plunged by more than 17% in after-hours trading Thursday after it said it got a subpoena in October from the U.S. Securities and Exchange Commission and reporting earnings that missed expectations and a reduced dividend. Kraft Heinz had earlier closed down slightly -- by .17% -- to $48.18 on Thursday. This includes "agreements, side agreements, and changes or modifications to its agreements with its vendors," said Kraft.
Kraft Heinz (NASDAQ:KHC) announced its latest quarterly earnings results after hours on Thursday, but a subpoena from the Securities and Exchange Commission (SEC) was the hot topic relating to the company on the day.The food and beverage company is now being investigated by the agency in relation to its account policies-the subpoena was reportedly sent the company's way in October. The company responded by saying it is investigating the matter internally following the subpoena.The move pushed Kraft Heinz to report a $25 million increase to the cost of its products sold, noting that it was "immaterial to the fourth quarter of 2018 and its previously reported 2018 and 2017 interim and year to date periods." The company added that it is cooperating with the SEC entirely, while also switching up the way it conducts its internal procedures to avoid future issues such as this one.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs far as earnings are concerned, for the Chicago-based company's fourth quarter of its fiscal 2018, it posted earnings of 84 cents per share on an adjusted basis, missing the 94 cents per share that Wall Street was calling for, according to data compiled by Refinitiv.Revenue was closer to the mark at $6.89 billion, but it was still a touch below the $6.93 billion that the Refinitiv guidance projected.KHC stock experienced a decline of more than 16% after the bell following the SEC investigation news and the company's earnings miss. Shares had fallen about 0.2% throughout regular trading on Thursday in anticipation of its results. More From InvestorPlace * 10 Smart Money Stocks to Buy Now * 7 Financial Stocks With Accelerating Growth * 7 Healthy Dividend Stocks to Buy for Extra Stability Compare Brokers The post Kraft Heinz Earnings: KHC Stock Plummets on SEC Investigation appeared first on InvestorPlace.
The Board of Directors of The Kraft Heinz Company (KHC) today declared a regular quarterly dividend of $0.40 per share of common stock payable on March 22, 2019, to stockholders of record as of March 8, 2019. This represents a reduction of $0.225 from the Company’s previous quarterly dividend of $0.625. For 150 years, we have produced some of the world’s most beloved products at The Kraft Heinz Company (KHC).