Kraft Heinz KHC (former Kraft Foods)

Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Mon Jun 24, 2019 9:27 pm

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Guggenheim dials back expectations on Kraft Heinz

By Clark Schultz

Guggenheim trims its price target on Kraft Heinz (NASDAQ:KHC) to $29 from $32 on concerns that the organization and brands are in "dire need" of heavy investments.

The firm's average price target is well below the average sell-side PT of $35.65.

Shares of Kraft are flat in premarket trading and down 27% YTD.

Source: Seeking Alpha

https://seekingalpha.com/news/3473162-g ... raft-heinz
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Mon Jun 24, 2019 9:41 pm

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Kraft Heinz is running out of cash: top analyst

by Brian Sozzi

“The company finds itself in a precarious situation where
(1) the balance sheet is constrained by a high debt burden,
(2) the brands are in dire need of heavy investment,
(3) the organization lacks enthusiasm and the appropriate level of talent and
(4) the cash flow isn’t sufficient to fund all those urgencies concurrently,” writes Grandet.


Grandet believes Kraft Heinz must “aggressively” sell close to $7 billion in assets and slash the dividend by 50% to conserve cash.

If Patricio is unable to pull the trigger on these things, well, it won’t be good.

Grandet thinks Kraft Heinz could run out of cash as soon as 2020 at its spending current pace if those assets aren’t unloaded and the dividend isn’t cut.


Source: Yahoo Finance

https://finance.yahoo.com/news/kraft-he ... 27354.html
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Wed Jun 26, 2019 10:03 am

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Kraft Heinz: Now's The Time To Consider Buying

by Daniel Jones


Summary

Based on filings made public over the past month, it looks like the worst for Kraft Heinz is likely over.

Though shares aren't exactly cheap, they are trading low for a high-quality industry leader.

This gives investors the opportunity to jump in should they choose, though some risks do still exist.

The biggest issue for the company that needs to pass is the SEC investigation, but if management felt confident enough that, while being investigated, the restated financials (which surely would be reviewed by the SEC) are capable of passing muster, then the worst is likely over.


Source: Seeking Alpha

https://seekingalpha.com/article/427201 ... uying#alt2
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Wed Jul 03, 2019 8:18 am

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Kraft Heinz closes of Canadian cheese business sale

Jul. 2, 2019

By Clark Schultz

Kraft Heinz (KHC -0.5%) announces the closing of the $1.24B sale of its canadian natural cheese business to Parmalat.

The deal includes includes Cracker Barrel, P'tit Québec and aMOOza! brands in the Canadian market.

Parmalat also picks up Kraft Heinz's production facility located in Ingleside, Ontario.

Kraft Heinz will continue to own and market its other cheese brands such as Philadelphia, Cheez Whiz and Kraft Singles.

Source: Press Release
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Tue Jul 09, 2019 5:59 am

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Kraft Heinz: The Time Is Now

Jul. 8, 2019

by Josh Arnold


Summary

KHC has been decimated.

However, I think the value proposition of the stock, along with a huge yield, make it a buy.

The company is taking the action necessary to fix its portfolio and brighter days are ahead.


The stock has fallen by nearly two-thirds after cresting near $90 in 2017; it trades for just $31 today.

On the bright side, the company’s Q4 report showed organic net sales up 2.4%, which I think is a pretty strong showing.

The stock still yields in excess of 5% today with the lower payout.


Source: Seeking Alpha

https://seekingalpha.com/article/427387 ... z-time-now
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Tue Jul 30, 2019 2:13 pm

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Kraft Heinz

Shares in the maker of Velveeta, Capri Sun and Grey Poupon, haven't recovered from the company's announcement in February that its accounting practices were under federal investigation.

It later restated financial reports for 2016, 2017 and part of 2018.

Its stock is down more than 30% since February's announcement.

It reports second quarter earnings on Wednesday.

Source: Yahoo Finance
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Thu Aug 08, 2019 10:47 pm

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Kraft Heinz reports 51% slump in first-half profit

By Richa Naidu and Aishwarya Venugopal

(Reuters) - Kraft Heinz Co's (O:KHC) net income halved in the first six months of the year, the packaged food maker said on Thursday as it wrote down the value of several business units by over $1 billion in results delayed by an internal investigation into procurement practices.

The company took a charge of about $744 million on its U.S. refrigerated, Latin American exports and Brazil units among others, blaming lower five-year operating forecasts.

It also booked an impairment charge of about $474 million in the second quarter to write down the value of six brands, including Velveeta and Cool Whip.

The company added that the impairment charges for the first half of 2019 were preliminary and subject to finalization of control procedures.

This marks Kraft Heinz's second major writedown since Feb. 21, when the company knocked $15.4 billion off the value of its Kraft and Oscar Mayer brands, posted a surprise quarterly loss, and disclosed a U.S. Security and Exchange Commission investigation into its accounting practices.

After an internal review of the accounting missteps, Kraft Heinz said it had increased the initial brand writedown by about $13 million due to misstatements in reports for 2016, 2017 and the first nine months of 2018.

The company's shares fell 6.5% in premarket trading on Thursday. The stock has lost a third of its value since February.

"The level of decline we experienced in the first half of this year is nothing we should find acceptable moving forward," said Kraft Heinz's new Chief Executive Officer Miguel Patricio. Patricio a 30-year marketing veteran from Anheuser-Busch InBev (BR:ABI), was named to the role in April.

Kraft Heinz's struggles have rocked other major consumer goods companies this year, highlighting the industry's struggle to cut costs without gutting marketing budgets.

Companies from Kellogg (N:K) to Procter & Gamble (N:PG) have raised prices and invested to keep products relevant amid intense private-label competition from grocers including Walmart (N:WMT), Kroger (N:KR) and Amazon.com (O:AMZN).

Net income attributable to the company's shareholders fell to $854 million, or 70 cents per share, in the six months ended June 29, from $1.76 billion, or $1.43 per share, a year earlier.

Excluding items, the Chicago-based company earned $1.44 per share, compared with $1.89 a year earlier. Kraft Heinz said net sales fell about 5% to $12.37 billion.

Source: Reuters

https://www.investing.com/news/stock-ma ... it-1949465
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Fri Aug 09, 2019 2:27 pm

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Kraft Heinz 'is a hot mess' and its stock could easily fall another 50%

by Brian Sozzi

The company noted that first-half revenues dropped 4.8%, and operating income sank 55% from the same period last year.

Kraft Heinz revealed $1.4 billion in new impairment charges to unnamed food brands sold globally today.

It also said it will delay its 10-Q filing with the SEC as it reviews its financial statements.


Source: Yahoo Finance

https://finance.yahoo.com/news/kraft-he ... 24436.html
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Sat Aug 10, 2019 5:29 pm

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Kraft Heinz: Do Not Buy The Dip

Summary

Kraft Heinz is hitting new lows after another quarter of ugly numbers, write-downs, and the company's inability to file its 10-Q on time.

A quality business can be a bargain when facing negative sentiment, but Kraft Heinz is currently flawed at its core.

The stock is too risky to invest in given the dysfunction of the business. Investors buying the dip are more gambling than identifying value in a quality asset.

The adjusted EBITDA is especially stunning. When you strip out currency, the resulting 16.0% drop in adjusted EBITDA was caused by a myriad of issues including lower organic sales, higher supply chain costs, and spending on "strategic imperatives".


Source: Seeking Alpha

https://seekingalpha.com/article/428428 ... nz-buy-dip
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Re: Kraft Heinz KHC (former Kraft Foods)

Postby winston » Tue Aug 13, 2019 8:24 pm

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Obscure Berkshire Hathaway Filing Reveals What Warren Buffett Thinks About Kraft Heinz

by Alap Shah

Here is how Berkshire responded in great detail to the SEC:-

KHC’s stock price decline and the length of this decline was not substantial enough.

Also, the operating results, while currently poor, will be better (divestitures, brand power, reduced but not eliminated dividend).

There are no plans to sell the stock at any time, and the KHC restatements are immaterial.

Given Berkshire’s long involvement with Heinz, and then with Kraft Heinz, including Board of Directors representation and its continuous investments in the space, we view these disclosures as material.

Warren Buffett still thinks KHC is a long-term holding position that will recover.


Source: Forbes

https://www.forbes.com/sites/alapshah/2 ... c9e1473b82
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