No-Moat Kraft Heinz's Languishing Sales and Profits Leave Bitter Taste; Shares Offer Modest Upside
Sustained sales growth has proved elusive for no-moat Kraft Heinz in the past three years, as the firm's strategic agenda has centered on eliminating substantial costs from its operations, resulting in operating margins that have consistently towered above peers (mid-20s versus mid- to high teens). However, third-quarter results failed to hit the mark on profits, with adjusted operating margins eroding 480 basis points to 21.4%, reflecting commodity and transportation cost inflation as well as i...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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