While Uncertainty Remains at Kraft Heinz, Change Could Be Brewing as New Management Takes the Helm
After digesting Kraft Heinz’s fiscal 2018 results following the delayed release of its 10-K filing, we’re lowering our fair value estimate for the no-moat firm to $54 per share from $60 to reflect more pronounced profit headwinds, including higher input costs in the near term and increased brand spending in the longer term. We expect marketing and research and development to expand to more than 5% of sales in the aggregate over our 10-year forecast versus less than 5% the last few years and our ...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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