Despite souring results, a shift at the top could indicate change is brewing at Kraft Heinz.
No-moat Kraft Heinz disclosed in a SEC filing on May 6 that the ongoing investigation into its procurement practices (which has resulted in the delayed filing of its fiscal 2018 10-K and its first-quarter 2019 10-Q) would lead it to restate earnings over the course of the last three years. The identified misstatements relate to the timing of previously recognized vendor agreements, supplier rebates, incentive payments, and pricing arrangements. This builds off its announcement in February during...Kraft Heinz is a food and beverage company. The company manufactures and markets food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee, and other grocery products throughout the world. The company has three reportable segments defined by geographic region: United States, Canada, and Europe, Middle East, and Africa. The company's remaining businesses are combined and disclosed as Rest of World. Rest of World comprises two operating segments: Latin America and Asia Pacific.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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