Kraft Heinz Stock Gets Fresh Dividend Cut Warning Ahead of May 6 Earnings
Kraft Heinz Company is back in the hot seat over its dividend, as BofA Securities recently moved the packaged-food giant into a higher-risk category for possible payout cuts—joining Conagra Brands, General Mills and Campbell’s in that group. Morgan Stanley, meanwhile, dropped its price target on Kraft Heinz to $22, down from $23, and kept its Underweight rating; that signals the firm sees the shares underperforming its broader coverage. Barron’s notes Kraft Heinz shares have tumbled over 40% in the last three years, amid a broader Big Food rout blamed on cost inflation, competition from store brands, tighter consumer spending, and the impact of GLP-1 diabetes and weight-loss drugs, which can dampen appetite.
