Kraft Heinz (NYSE:KHC) stock is on the rise to kick off the week as the company finally filed its 10-K with the Securities and Exchange Commission (SEC) following a delay of about three months.
The Chicago, Ill.-based food giant had a rough February as the company’s fourth-quarter results left something to be desired, while it also revealed it was continuing to deal with an investigation with the SEC. The investigation in question was linked to a $15.4 billion asset write-down connected with its Kraft and Oscar Mayer Brands, while a dividend cut also hurt the stock.
Kraft Heinz then missed the March deadline to file its 10-K, an annual document that businesses send the SEC providing a comprehensive summary of how it performed financially. However, KHC stock recovered today as the company filed its 10-K on Friday.
Nevertheless, the business still has to file its 10-Q or its first and second quarters of the year. Plus, Kraft Heinz has a new CEO ready to take over soon as Miguel Patricio decided to leave his post as chief marketing officer of Anheuser-Busch InBev and start his new position at the beginning of July.
The business noted that the 10-K filing marked a step toward “normalization” after waiting for several months. Investors were happy with the move as there are now less surprises in the future.
KHC stock is up about 4.6% Monday afternoon following the news.