Friday Ramblings

22 Feb 2019 14:06
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I could have made separate posts but decided to roll everything into one today…

Fist Sell of the Year? – Kraft-Heinz (KHC)

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What the heck happened to KHC after the close on Thursday? As of this morning pre-market prices have the stock down near 26% at $35.75/share. That was one of the worst quarters reported I’ve seen from a large corporation in a while and it is pummeling investors with a series of 3 body blow punches and capped off with an upper-cut.

The Body Blows

  1. Missed earnings estimates by more than 10%
  2. Disclosed an SEC probe into accounting practices
  3. Announced they will not see profit improvements until 2020

Then the final UPPER CUT

  • Announced a 36% dividend CUT

That last punch sent investors flying to the canvas, tough morning to be a holder of KHC stock! I'm sure the price will drop even more after the opening bell so I won't sell immediately until after the initial panic subsides.

Tax Man Cometh

Just finished up my taxes and like many others I will be paying a significant amount. However, unlike everyone else I cannot blame the Trump tax. This mistake was all on me.

Last year after I got my first paycheck with less taxes I quickly went down to human resources and adjusted my withholdings to avoid a tax issue. Earlier this year when folks stared complaining about having to pay after their tax filing I felt pretty smug that I had foresight and wouldn’t have that problem.

Then I started preparing my own taxes and realized I forgot one important fact, my youngest son turned 17 last year. After having three kids how could I forget that I was losing a huge child tax credit! I went from feeling smug to downright stupid. At least I had the cash on hand to absorb the pain.

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