Day: August 1, 2016

Brown-Forman discloses director election tally, and support wasn’t uniform across the board

Garvin Brown IV
Brown

The director-by-director vote tallies filed today with the Securities and Exchange Commission followed last Thursday’s annual meeting, where the Louisville-based spirits giant said only that the full slate of 12 directors had been re-elected.

As is often the case, directors received varying degrees of support. Here’s the tally of “for” votes each one got; names are listed in order of those getting the highest to lowest share of all eligible votes. Board Chairman George Garvin Brown IV won the most: 95.72%.

Brown-Forman vote tally

The Brown family controls the nearly 150-year-old company through their 67% ownership of all voting class A shares.

Updated 8:40 p.m. Also today, Garvin Brown and newly re-elected Director Augusta Brown Holland were among a group of officers and executives who filed updated stock ownership notices with the SEC. The 22 separate Form 4 documents are in the SEC filings section of the company’s investor relations webpage.

Kindred CEO, HR chief sell shares

In Securities and Exchange Commission documents filed today, both executives sold at $12.26 a share:

  • Chief Executive Officer Benjamin Breier4,905 shares shares for $60,135. Shares beneficially owned after the trade: 678,452
  • Chief People Officer Stephen Cunanan, 3,511 shares for $43,045. Beneficially owned after: 83,527.

Kindred’s stock closed this afternoon at $11.67 a share, down 4.8%, or 59 cents. The Louisville-based hospital and nursing giant employs 2,200 workers in the city, and 102,000 across the nation. More about Kindred.

Roadhouse whiffs Q2 sales, and shares plunge 8%; McD done with antibiotics-fed chicken; Kindred closes $39M Arkansas deal; and Pizza Hut workers in S.C. score $50 touchdown

A news summary focused on 10 big employers; updated 8:11 p.m.

TEXAS ROADHOUSE said today it missed second-quarter revenue estimates, and also disclosed that same-store sales in the current quarter had slowed vs. Q2. The results were released after markets closed. In after-hours trading, shares tumbled 7.9% to $43.94. The Louisville-based steakhouse chain said earnings were 47 cents per share on revenue of $508.8 million. Wall Street had forecast EPS of 45 cents and $509.8 million in revenue (Investors Business Daily and press release). Today’s report came less than a week after several analysts downgraded Roadhouse’s stock, sending shares down 6%.

KFC bucket of chickenKFC: Raising pressure on KFC to follow suit, McDonald’s said today it’s completely stopped buying chickens raised with antibiotics meant for humans, a step completed months ahead of schedule. The chain previously estimated the change would be completed by March 2017 (CNBC). The longtime KFC critic on the issue, the Natural Resources Defense Council, reiterated its call for the Yum unit to stop buying from chicken suppliers using antibiotics. “KFC,” the group said today, “stands out as the signature chicken purveyor that is far behind” (NRDC).

KINDRED and the Arkansas Department of Health said they had completed a previously announced agreement for the Louisville hospital and nursing company to buy the state agency’s in-home health care operations for about $39 million. The deal includes licenses to provide home health, hospice and personal care services throughout the state. Kindred won the award through a bidding process (press release).

AMAZON shares shot up to a new record high today — $770.50, up 1.5% — before closing lower at $767.74. The retailer’s stock is now up 43% from a year ago vs. a much smaller 3% for the broader S&P 500 index (Google Finance). Amazon employs 6,000 workers in the Louisville area at mammoth distribution centers in Jeffersonville, and in Bullitt County’s Shepherdsville. (More about Amazon.)

Ford DAV car
One of the newest DAV vans.

FORD received a city building permit today to proceed with $14 million of planned improvements at its Kentucky Truck Plant on Chamberlain Lane (Courier-Journal). Also today, the automaker said it donated another eight vans to the DAV Transportation Network, a volunteer group that takes ill and disabled veterans to VA medical centers across the country. The automaker said today it has now given 207 vehicles to the group over the past 20 years; the program dates back 94 years to when founder Henry Ford provided Model Ts as transportation for disabled vets (press release). In Louisville, Ford employs nearly 10,000 at its truck and vehicle assembly factories; more about its local operations.

Cam Newton
Newton

PIZZA HUT employees in Spartanburg, S.C., didn’t learn the mysterious customer in black who showed up 15 minutes after closing time for a cheese pizza was Carolina Panthers quarterback Cam Newton until after he’d driven away. But he did leave a big tip last Thursday, paying $50 for the pie. “It definitely came in handy,” manager Amanda McCluney told WCNC, “because I was actually short $50 because I’m moving and I needed that to go towards my U-Haul and my storage unit” (WCNC).

In other news, U.S. Senator Mitch McConnell said there’s a “great likelihood” that he’ll seek a seventh term in 2020. “I’m at the top of my game,” McConnell, 74, told WKYT in Lexington. “I think I’ve been effective in serving our people, and there’s a great likelihood I’ll run again” (Associated Press via ABC). In office since 1985, the Republican is Kentucky’s longest-serving U.S. senator (Wikipedia).