Kraft Heinz: Empty Bottle

I rate Kraft Heinz a sell: legacy brands, no growth, and a weak balance sheet make the stock unattractive despite its high dividend. Recent results highlight declining sales, margin pressure, and a massive $9.3B asset write-down, reflecting overpaid acquisitions and underperforming legacy brands. Leverage remains high with $18.6B in net debt and limited financial flexibility; further asset impairments cannot be ruled out given the balance sheet composition.