Is Kraft Heinz Stock a Buy?
Kraft Heinz (NASDAQ: KHC) has been a perennial underpeformer since the 2015 merger that created the company. Excessive cost-cutting, a lack of investments, and overvalued brands have all weighed on the stock over the last five years. But this year at least a few things are going right for the company.
Like other packaged food staples, Kraft Heinz has gotten a nice bump from the coronavirus pandemic. Organic sales have surged 7.4% in the second quarter as consumers have spent more time at home and restaurants have remained closed, meaning more food spending has been taking place at grocery stores.
Kraft Heinz has outperformed the market this year, gaining 8% so far, and it should see steady growth as the pandemic continues. But is it a buy? Let's take a closer look at what the stock has to offer today.
Source Fool.com
