|Bid||32.27 x 1000|
|Ask||32.87 x 4000|
|Day's Range||32.21 - 32.87|
|52 Week Range||31.53 - 64.99|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 1, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||1.60 (4.90%)|
|1y Target Est||35.61|
Global merger and acquisition volumes reached their third-highest year on record in 2018, continuing a trend that has seen dealmaking steadily increase since the financial crisis. All this M&A means that there are huge amounts of goodwill sitting on companies’ balance sheets — which bring the potential of similarly large impairments with them. With interest rates still at historically low levels and the global economy growing strongly in recent years, investors have largely been content to assume that firms have paid fair prices for the acquisitions they have made.
Loomis, CA, based Investment company RWWM, Inc. buys The Kraft Heinz Co during the 3-months ended 2019Q1, according to the most recent filings of the investment company, RWWM, Inc..
Berkshire’s Occidental deal was great for Berkshire, not so great for Occidental. But they both seem happy enough, so -- good for them?
Miguel Patricio, Kraft Heinz’s incoming chief executive, is prepared to stand up for his brands. Fifteen years later, Mr Patricio also appears undaunted by the task facing him at Kraft Heinz, the Warren Buffett-backed food group that has become one of corporate America’s biggest turnround jobs.
General Electric Co shareholders offered their latest endorsement of new Chief Executive Larry Culp this week when they approved a 2018 pay package worth $15 million (£11.51 million). Earnings on April 30 showed the Boston-based company still had a way to go in its turnaround efforts, but Culp's plan to reduce the company's $110 billion debt load has nevertheless spurred interest from bondholders. The rise in bond prices is "definitely a recognition of the fact (Culp) does have a plan and that maybe things have bottomed out for GE," said Mark Jackson, portfolio manager at Diamond Hill Capital.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Kraft Heinz Foods Company and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
By Francesca Landini MILAN (Reuters) - U.S. packaged food giant Kraft Heinz has launched the sale of its baby food brand Plasmon with preliminary bids due by the end of next week, two sources close to ...
U.S. packaged food giant Kraft Heinz has launched the sale of its baby food brand Plasmon with preliminary bids due by the end of next week, two sources close to the matter said. Private equity firms and food groups are looking at the business, both sources said, adding it could be worth about 700 million euros ($783 million). Another source said PAI Partners was among investors expected to present a preliminary bid, adding that rival private equity firm Cinven could also be interested.
Berkshire said in its first-quarter report on Saturday it had invested $340 million in various tax equity investment funds from 2015 to 2018, before learning that federal authorities had alleged "fraudulent income conduct" by the funds' sponsor. "We now believe that it is more likely than not that the income tax benefits that we recognised are not valid," and took the charge for "uncertain tax positions" related to its investments, Berkshire said. Buffett's assistant Debbie Bosanek confirmed that the charge related to DC Solar.
One of Warren Buffett's most admirable traits was on display this past weekend at the Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) annual meeting in Omaha. Loyal as they come, Buffett and his sidekick, Charlie Munger, continued to support Wells Fargo (NYSE:WFC) stock despite the ongoing lousy press that plagues the bank.Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading TipsBuffett's support is excellent news if you own WFC stock, but terrible news if you own stock in Berkshire Hathaway, whose position in WFC stock is its third-largest equity holding. While Buffett's advice is broadly useful, it's becoming questionable how useful it may be about some of BRK.B stock's specific holdings when they're in hot water. The Ongoing Scandal for WFC StockWFC recently stated that the combined legal losses from several of its scandals -- including creating as many as 2 million fake bank accounts -- could be as high as $3.1 billion, 41% higher than its estimate in September. The bank is currently recruiting a new CEO to replace Tim Sloan, who resigned suddenly in March after taking over from former CEO John Stumpf, who himself resigned in October 2016 after leading WFC down a scandalous path of deceit and deception. * 10 Great Stocks to Buy on Dips In the two-and-a-half years since the fake-account scandal first surfaced, Warren Buffett and Charlie Munger have been very supportive of both Wells Fargo and WFC stock. "It's a great bank that made a terrible mistake," Buffett told CNN's Poppy Harlow in an interview in November 2016. "It was a dumb incentive system, which when they found out it was dumb, they didn't do anything about it."Buffett, of course, is referring to the fake accounts and the company's ridiculous goal (set by Stumpf) of selling eight Wells Fargo products per household that banked with WFC.This past weekend, Buffett didn't steer too far from his 2016 comments about the bank."It looks to me like Wells made some big mistakes in what they incentivized," Buffett said. "I've seen that [at] a lot of places. That clearly existed at Wells. To the extent that they set up fake accounts, a couple of million of them that had no balance in them, that could not possibly have been profitable to Wells."Munger said nobody should go to jail for honest errors of judgment and added that he wished Tim Sloan was still in the top job. Buffett's Fine LineBuffett is walking a fine line between protecting the interests of Berkshire Hathaway shareholders (he is the largest owner of Berkshire stock) and the interests of the American people. If he says damning things about Wells Fargo, the WFC stock price will tank and he, along with the rest of his shareholders, would lose money, due to BRK.B's large bet on WFC stock. Yet if he continues to play the role of a hypocrite, defending the practices of a rogue bank stock he happens to own, while discussing other problems that the U.S. faces, investors and others are eventually going to tire of listening to this icon of investing. And that would be a shame. However, it's not the first time that Buffett's said one thing and done another. Consider his investment in Kraft Heinz (NASDAQ:KHC). At the company's annual meeting this weekend, Buffett was highly critical of private equity firms."We have seen a number of proposals from private equity funds where the returns are really not calculated in a manner that I would regard as honest," Buffett said. "If I were running a pension fund, I would be very careful about what was being offered to me."He went on to state that he wasn't going to add debt to Berkshire Hathaway to juice its internal rate of return. It's an observation that would be righteous if it weren't for the fact that Buffett's in bed with private equity firm 3G Capital. Not only did he invest a whole bunch of money in Kraft Heinz, but he also got involved with Burger King's merger with Tim Hortons in 2014, which formed Restaurant Brands International (NYSE:QSR). Care to guess how much debt those two companies have?QSR had $11.8 billion in long-term debt at the end of March, equaling 70% of its market cap. Kraft Heinz had $30.9 billion in long-term debt at the end of December, representing 78% of its market cap.So, it seems like he is suggesting to investors, "do as I say, not as I do." The Bottom Line on WFC StockWhen Warren Buffett's gone from this planet, he will be missed, most notably by those who were made very rich by his business acumen. However,investors will look back on his pledge of allegiance to Wells Fargo and wonder why he remained loyal to that particular bank when there were so many other better ones.Buffett's calming words this weekend will continue to do wonders for WFC stock. As for Berkshire Hathaway, it's merely another reason to ponder whether it's lost its touch.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Great Stocks to Buy on Dips * 6 Growth Stocks to Buy for the Rest of 2019 * 4 Mega-Cap Stocks to Sell Before They Melt Down Compare Brokers The post Warren Buffettas Support for Wells Fargo Stock Isn't Smart appeared first on InvestorPlace.
With Mother’s Day fast approaching on May 12, Maxwell House coffee has opted to celebrate mom’s big day with a new ad campaign that somewhat awkwardly aims to draw attention to all the “invisible labor” mothers do every day, but that too often gets overlooked in the frenzied business of people living their day-to-day lives. Maxwell House is one of a number of iconic brands in the portfolio of Kraft Heinz, a packaged foods behemoth whose various problems have been thrust front and center in recent months. Among other things, KH took a whopping $15 billion writedown in February on two of its most iconic brands, Heinz ketchup and Oscar Mayer.
Kraft Heinz said in a filing Monday it will restate its financial statements for 2016 and 2017 by $181 million, after employee misconduct sparked a review into its procurement. As result of the investigation, roughly a dozen employees were reprimanded, people familiar with the matter said. The company says that the investigation has been "substantially resolved," and that no senior executives were implicated.
On Monday, Kraft Heinz (NASDAQ:KHC) announced that it would have to restate full-year and quarterly results after some of its employees fabricated a number of procurement transactions. The affected results date back to 2016, meaning the firm has more than two years of misleading financial data to answer for. The news hurt Kraft stock, but most of investors' disappointment was already priced in because the company disclosed the issue back in February.Source: Mike Mozart via FlickrKHC was trading at $32.77 per share on Tuesday morning, a 25% drop from this year's high above $48. Further to FallThe big question here is whether this misinformation is a buying opportunity. The fact that the firm has to restate means that its first-quarter results will be delayed this year, which could be putting off another blow to the firm's share price. The firm broke the news about its accounting issues during its Q4 results, which were lackluster and included a $12.6 billion loss due to a $15.4 billion write-down on its Kraft and Oscar Mayer brands. Plus, Kraft stock cut its dividend by 36% in order to create a little more financial wiggle room … a worrying sign for the future. InvestorPlace - Stock Market News, Stock Advice & Trading TipsGuidance for the first quarter was also poor, with management cautioning that organic sales were likely to decline due to the timing of Easter this year. That means when Kraft does finally come out with its first-quarter results, investors are likely to be disappointed and the KHC stock could take another hit. Value PlayContrarian investors are likely eyeing up Kraft stock as a potential value play and they could be onto something. If the misstatements are as minimal as Kraft management says they are, the worst may be over for KHC stock. The most recent disclosure suggests that the restatement will come in at around $208 million, a figure that management says won't be "quantitatively material." If that guidance is correct, it would translate into a less than 1% change to earnings-per-share over the past three years. * 10 Vice Stocks to Spice Up Your Portfolio The bottom line on the Kraft misstatements is that they don't look to be significantly damaging to the firm's financials at this point, so the worst from that angle is likely over. GrowthThe real issue for Kraft stock has been growth. The company's pricing power has diminished over the past few years as consumers look to price rather than brand when it comes to meat and cheese purchases. That has hurt KHC's finances because that category makes up about a third of the firm's overall revenue.Its packaged foods arm has also been hurt by shifting consumer preferences as most opt for healthier, fresh options. In order to counter the softer demand, Kraft has been cutting prices, which has helped keep sales growth positive. However, that has weighed on margins significantly. KHC also has a debt problem. The firm has been working to pay down its long-term debt, but acquisitions and stalling earnings growth have made that a difficult endeavor. Last quarter we saw long-term debt rise by 9%. How Risky Is KHC?Right now, Kraft looks like a very risky play. While the misstatement issues appear to be minimal, the firm has several other headwinds hurting its growth potential. It's worth noting that long-time Kraft supporter Warren Buffet is keeping the faith when it comes to KHC stock -- he told CNBC that despite the financial reporting issues, he hasn't lost confidence in the firm. * 7 Strong Buy Stocks That Tick All the Boxes What does that mean for investors considering KHC as a value play? It's a risky bet, but it could pay off. The huge drop that Kraft stock suffered back in February was due in large part to the news that the firm's financial reports may not be correct; however, now that the damage has been assessed, it looks like the worst is over. Of course, the firm will still have to wrestle with the headwinds that were weighing on the stock before the accounting issues were disclosed -- and that's the risk value investors would be taking by snapping up KHC now. However, at just $32 per share and a 4.88% dividend yield, KHC could be a great value buy if you're comfortable with the risk. As of this writing, Laura Hoy did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Strong Buy Stocks That Tick All the Boxes * 7 Stocks to Buy From the T. Rowe Price Health Sciences Fund * 5 Tech ETFs to Plug In to Big Profits Compare Brokers The post Employee Misconduct Takes a Bite Out of Kraft Stock appeared first on InvestorPlace.
Editor's note: This story was previously published in March 2019. It has since been updated and republished.Things aren't getting any better for Kraft Heinz (NYSE:KHC). The company's woes started earlier this year with disappointing earnings, lower revenues, a 36% dividend cut and pending asset sales.At the time, Buffett's decision to get in bed with 3G Capital is looked merely like a poor one. It is one that continues to cost Berkshire Hathaway (NYSE:BRK.B) plenty of coin as KHC stock implodes.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Strong Buy Stocks That Tick All the Boxes But as the market focused on Buffett's blunder, the Oracle of Omaha was buying stocks, plenty of them. The reality is that many of his new positions and buys of old favorites were incredibly smart and make up for the misstep at KHC. It's here that Buffett's brilliance as America's favorite value investor shines through. By following Buffett's moves into these picks, investors should get a hefty dose of dividends and gains for years to come.With that, here are five Warren Buffett buys that worth buying yourself.Source: Shutterstock PNC Financial (PNC)It's no secret that Warren Buffett is attracted to stocks in the financial and banking sector. Berkshire Hathaway is the top shareholder in numerous finical institutions and it can add PNC Financial (NYSE:PNC) to that list. Over the last quarter, Buffett & Co. increased his stake in PNC by about 35% and now owns over 8.2 million shares.And it's easy to see why Buffett is in love with PNC.PNC is considered a super-regional bank and operates a huge network of locations across the northeast and Midwest. That huge size and scope came not only from organic growth, but several smart buys of smaller struggling rivals during the recession.Because of this, PNC has continued to see its assets, deposits and loan growth steadily increase. Moreover, the bank is run very conservatively and features low loan losses and fortress-like balance sheet.Management at PNC has also been very smart in other ways as well. The bank has embraced technology throughout its customer system and the firm leads the way in app development, mobile banking and wealth management. And the firm saw the ETF writing on the wall early and holds a huge stake in asset manager BlackRock (NYSE:BLK).With all of this, PNC has continued to reward shareholders. Last year, PNC purchased more than $2.8 billion in stock and handed out more than $1.6 billion in dividends. It's no wonder why Buffett continued to add the regional bank last quarter.Source: Nancy
Kraft Heinz Co NASDAQ/NGS:KHCView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is low for KHC with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding KHC totaled $4.78 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. KHC credit default swap spreads are rising towards their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
While Mother’s Day is a great day for appreciation, love and macaroni jewelry, the gift moms secretly really want is some downtime. Kraft celebrates moms and wants to alleviate the pressures of motherhood by encouraging them to take some time away this Mother’s Day and will in return cover the cost of a babysitter*. Last Mother’s Day, 75% of moms received cards, 67% received flowers and 55% were taken out to eat**.
The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - Prospects for a speedy conclusion to the U.S.-China trade fight ...
Kraft Heinz (KHC) is restating its financial results for the past 3 years following an SEC investigation. Over the past 3 months KHC has lost 30% of its value. PE cost-cutting mentality runs KHC into the ground
Stocks ended down Monday, but bounced back from earlier lows after China said its trade representatives would still come to the U.S. for talks, despite President Trump's tweets threatening to raise tariffs on China-made goods. rose slightly after the packaged food company announced it would restate its financial results for 2016 and 2017 following an investigation into its accounting practices, but said the changes wouldn't be "material" and would likely amount to less than $210 million. advanced after the worldwide meat company beat Wall Street's second-quarter earnings estimates but warned of a possible spread of African swine fever.