The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands. It sells its products through its own sales organizations, as well as through independent brokers, agents, and distributors to chain, wholesale, cooperative, and independent grocery accounts; convenience, value, and club stores; pharmacies and drug stores; mass merchants; foodservice distributors; institutions, including hotels, restaurants, bakeries, hospitals, health care facilities, and government agencies; and online through various e-commerce platforms and retailers. The company was formerly known as H.J. Heinz Holding Corporation and changed its name to The Kraft Heinz Company in July 2015. The Kraft Heinz Company was founded in 1869 and is based in Pittsburgh, Pennsylvania.

The Kraft Heinz Company

Key Points
Buffett and Berkshire helped orchestrate the merger of Kraft and Heinz in 2015, but the stock has performed terribly since then.
Kraft Heinz is planning to split its condiments and sauces business from its North American grocer division.
In a rare public repudiation, Buffett went on CNBC and called the split "disappointing."
In a move that many thought could be coming, Kraft Heinz's (NASDAQ: KHC) management team has chosen to split into two. One company, Global Taste Elevation Co., will comprise the faster-growing sauces and condiments products. The other company, North American Grocery Co., will house the North American grocery business.
The move comes after shares of Kraft Heinz have struggled immensely, down over 22% in the past five years. Shifting consumer preferences into healthier foods have challenged Kraft Heinz's core business, while the company has also been working to lower its high debt load.
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Following the announcement of the split, Warren Buffett, CEO of Berkshire Hathaway, the largest shareholder of Kraft Heinz, told CNBC that he is "disappointed" by the strategic move. Given Buffett's stature in the stock market, it's not easy for a company to go against the Oracle of Omaha, especially when Berkshire is the largest shareholder. Will the bold move pay off for Kraft Heinz?
Buffett is not pleased
Buffett and Berkshire essentially created the Kraft Heinz company we know today. In 2013, Berkshire teamed up with Brazilian private equity firm 3G to purchase Heinz in a deal valued at $28 billion, which included assumption of the company's debt. Two years later, Berkshire and 3G again worked together to merge the company with Kraft.
Berkshire is the largest shareholder today, owning 27.5% of outstanding shares. However, it's clear Buffett and Berkshire are not happy with the decision to split into two, citing the $300 million in expenses to split the company, the year it will take to complete the transaction, and the fact that shareholders did not get a vote on the decision.
Perhaps Buffett saw this coming, as Berkshire earlier this year gave up its two seats on Kraft Heinz's board of directors and marked down the position in the second quarter, indicating Berkshire may look to unwind its position. Berkshire's incoming CEO Greg Abel reportedly met with Kraft Heinz management about a week before the split announcement and voiced his displeasure with the idea.
Despite clear frustration, Buffett also told CNBC that it would not accept a block bid for its shares unless the same deal was offered to other shareholders.
Although Berkshire is clearly not happy, their decision to merge Kraft and Heinz has been a dud. Shares are down around 70% since the deal closed in 2015.
Aiming to give growth a better runway
The two new companies will be one focused on global taste innovation and North American Grocery. The global taste company will house faster-growing brands like Heinz, Philadelphia Cream Cheese, and Kraft Mac & Cheese. In 2024, these companies generated net sales of $15.4 billion and adjusted earnings before interest, taxes, depreciation, and amoritization (EBITDA) of $4 billion. The idea will be to maximize high-margin growth and leading market share.
The North American grocer business will include brands like Oscar Mayer, Kraft Singles, Lunchables, Capri Sun, and Maxwell Coffee. In 2024, these businesses generated about $10.4 billion of sales and adjusted EBITDA of $2.3 billion. Management wants the grocer business to focus on reliable free cash flow generation via operational efficiency through stable brands.
Part of Kraft Heinz's issue has been that it operates so many different food brands, forcing the company to compete in many different consumer staple subcategories, which has made it difficult for the company to really focus and deliver strong market share in a number of categories. With two separate entities, this will change, according to Kraft Heinz's management team from the presentation explaining the decision:
... Separating into two independent, publicly traded companies will allow both companies to dedicate the right level of attention and resources to all areas of the business, improve execution, create better aligned incentives, and enable our iconic brands to reach their full potential. We will also be able to reduce operational complexity and tailor operating models, driving further efficiencies and industry-leading margins.
As mentioned, the split will result in $300 million of "dis-synergies." The split is expected to close in the second half of 2026. Kraft Heinz's high 6%-plus dividend yield is expected to be maintained in aggregate at inception, although the capital structures of each company including reallocation of the debt has yet to be determined.
Can it work?
There are still a lot of unknowns here, including how the debt will be reallocated and whether either company can achieve the desired growth. It's also possible that the faster-growing Global Taste Elevation business draws the majority of investor interest. I also wonder whether the bulk of the dividends will eventually be allocated to the grocer business to draw more dividend investors, and then have the taste business pay fewer dividends and focus on growth and appreciation.
Buffett and Berkshire have acknowledged that they made mistakes in the past with Kraft Heinz, but despite the stock's wretched performance, Berkshire hasn't bought or sold a share since 2015.
It's too hard to make a real call at this point because it's largely a show-me story right now. The good news is that investors should be able to ride out the high dividend until at least the split happens next year. The bad news is the company has lost the support of Berkshire, which the market holds in high regard.
Even if Kraft Heinz's plan does work, this investment is for patient, long-term investors. It certainly won't happen overnight.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Over Warren Buffett's Objections, Kraft Heinz Is Planning to Break Up. Will the Bold Move Pay Off for the Struggling Stock?

Warren Buffett, who has built a fortune through his company Berkshire Hathaway Inc. (BRK.B), is not happy about the recent plans of The Kraft Heinz Company KHC spin-off. BRK.B currently has a 27.4% stake in Kraft Heinz, making it the company’s largest shareholder. BRK.B’s earnings of non-controlled businesses include earnings from its investments in Kraft Heinz. Buffett’s investment in Kraft Heinz was worth $8.4 billion as of June 30, 2025.
To increase strategic focus and lower complexity, Kraft Heinz has decided to separate into two independent, publicly traded companies through a tax-free spin-off. Buffett and 3G Capital had joined forces to craft the high-profile merger of Kraft Foods and H.J. Heinz, creating Kraft Heinz back in 2015. However, following the recent announcement, Warren Buffett stated, "It certainly didn't turn out to be a brilliant idea to put them together, but I don't think taking them apart will fix it," per CNBC. Notably, in the second quarter of 2025, Berkshire wrote down $3.76 billion against its Kraft Heinz stake, following the latter’s announcement that it was evaluating potential strategic transactions on May 20, 2025. This weighed on BRK.B’s net income in the last quarter, dragging down net earnings attributable to Berkshire shareholders by about 59%.
Berkshire boasts an impressive acquisition as well as equity investment portfolio. This conglomerate, with Warren Buffett at its helm, targets businesses with durable earnings power, strong returns on equity, modest debt, and skilled management—acquired only at sensible valuations. Other than Kraft Heinz, Berkshire’s other equity investments include Occidental and Berkadia. These have collectively fueled Berkshire’s growth by adding resilient cash-generating businesses, diversifying income streams and expanding its investment base.
Impressive Inorganic Profile of BRK.B’s Competitors
Progressive Corporation’s PGR acquisition strategy focuses on building scale, technology and distribution while reinforcing its insurance portfolio. Progressive pursues disciplined, selective deals that deliver strategic value and complement its core strengths. Through targeted acquisitions, Progressive enhances efficiency and customer reach, ensuring long-term competitiveness in a dynamic insurance landscape.
Travelers Companies’ TRV acquisition strategy emphasizes reinforcing core insurance strengths while expanding into complementary markets. Travelers seeks disciplined acquisitions that enhance underwriting, technology and distribution capabilities. With a focus on sustainable shareholder value, Travelers carefully evaluates opportunities that bolster its competitive edge while maintaining a conservative balance sheet.
BRK.B’s Price Performance
Shares of BRK.B have gained 11.1% year to date, outperforming the industry.
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BRK.B’s Expensive Valuation
BRK.B trades at a price-to-book value ratio of 1.61, above the industry average of 1.56. It carries a Value Score of D.
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Estimate Movement for BRK.B
The Zacks Consensus Estimate for BRK.B’s third-quarter 2025 EPS has witnessed no movement over the past 30 days, while that for the fourth quarter has moved 14.1% higher in the same period. The consensus estimate for full-year 2025 EPS rose 0.9%, while the same for 2026 has declined 1.5% over the past seven days.
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The consensus estimates for BRK.B’s 2025 and 2026 revenues indicate year-over-year increases. While the consensus estimate for BRK.B’s 2025 EPS indicates a year-over-year decline, the same for 2026 suggests an increase.
BRK.B stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kraft Heinz Spinoff: Will it Impact Berkshire's Net Income?

Below is Validea's guru fundamental report for KRAFT HEINZ CO (KHC). Of the 22 guru strategies we follow, KHC rates highest using our Shareholder Yield Investor model based on the published strategy of Meb Faber. This strategy looks for companies returning cash to shareholders via dividends, buybacks and debt paydown.
KRAFT HEINZ CO (KHC) is a large-cap growth stock in the Food Processing industry. The rating using this strategy is 85% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of KRAFT HEINZ CO
More Information on Meb Faber
About Meb Faber: Meb Faber is the founder of Cambria Investments. His research has covered a wide spectrum of the investment world, including topics like shareholder yield, trend following, global asset allocation and home country bias. His shareholder yield strategy, which is based on his book "Shareholder Yield" and forms the basis for an ETF of the same name, looks for companies that are focused on creating value for shareholders by returning cash to them in the form of dividends, share buybacks and debt paydown. Meb is also the author of 4 other books and numerous white papers on investing related topics.
Additional Research Links
Dividend Aristocrats 2025
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Guru Fundamental Report for KHC

Investors in Kraft Heinz Co (Symbol: KHC) saw new options begin trading today, for the October 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the KHC options chain for the new October 24th contracts and identified one put and one call contract of particular interest.
The put contract at the $25.00 strike price has a current bid of 24 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $25.00, but will also collect the premium, putting the cost basis of the shares at $24.76 (before broker commissions). To an investor already interested in purchasing shares of KHC, that could represent an attractive alternative to paying $26.93/share today.
Because the $25.00 strike represents an approximate 7% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 69%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 0.96% return on the cash commitment, or 7.01% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Kraft Heinz Co, and highlighting in green where the $25.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $29.00 strike price has a current bid of 28 cents. If an investor was to purchase shares of KHC stock at the current price level of $26.93/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $29.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.73% if the stock gets called away at the October 24th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if KHC shares really soar, which is why looking at the trailing twelve month trading history for Kraft Heinz Co, as well as studying the business fundamentals becomes important. Below is a chart showing KHC's trailing twelve month trading history, with the $29.00 strike highlighted in red:
Considering the fact that the $29.00 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 68%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 1.04% boost of extra return to the investor, or 7.59% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 54%, while the implied volatility in the call contract example is 34%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $26.93) to be 24%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
Calavo Growers Historical Earnings
AQMS YTD Return
CPAC Dividend History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

October 24th Options Now Available For Kraft Heinz (KHC)

The S&P 500 Index ($SPX) (SPY) today is up by +0.56%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +1.02%. September E-mini S&P futures (ESU25) are up +0.56%, and September E-mini Nasdaq futures (NQU25) are up +1.00%.
Stock indexes are mostly higher today, driven by lower T-note yields and increased chances of a Fed rate cut later this month. T-note yields fell after the July JOLTS job openings fell more than expected to a 10-month low. The 10-year T-note yield is down -5 bp to 4.22%.
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Strength in megacap technology stocks is also supporting gains in the broader market. Alphabet is up more than +8% after a judge ruled in an antitrust case late Tuesday that the company won't be forced to sell its Chrome browser. Also, Apple is up more than +3% after a court ruling stopped short of barring the company's lucrative search arrangement with Google, a deal that has generated roughly $20 billion in revenue a year for Apple.
The weakness in energy producing stocks and energy service providers is a negative factor for the overall market today, with the price of WTI crude oil down more than -2%.
US Jul JOLTS job openings fell -176,000 to a 10-month low of 7.181 million, showing a weaker labor market than expectations of 7.380 million.
US Jul factory orders fell -1.3% m/m, right on expectations, and the second straight month orders have declined.
US MBA mortgage applications fell -1.2% in the week ended August 29, with the purchase mortgage sub-index down -3.1% and the refinancing mortgage sub-index up +0.9%. The average 30-year fixed rate mortgage fell -5 bp to 6.64% from 6.69% in the prior week.
Fed Governor Christopher Waller said the fed funds rate is currently above the neutral rate, meaning monetary policy is restricting the economy, and that inflation is likely to move "much closer" to the Fed's goal in six or seven months. He added that the Fed should aim to get ahead of a sharp slowdown in the job market and "we need to start cutting interest rates at the next meeting" and make multiple cuts in the coming months.
St. Louis Fed President Alberto Musalem said, "The current modestly restrictive setting of the policy rate is consistent with today's full employment labor market and core inflation nearly one percentage point above the Fed's 2% target," and it's important to take a "balanced approach" to policy right now and not weight too much to support the labor market or to fight inflation.
Atlanta Fed President Raphael Bostic reiterated that he sees one interest rate cut this year, as price stability remains his primary concern, and it's not unambiguously clear that the labor market is weakening materially.
This week's USeconomic calendaris busy. Later today, the Fed's Beige Book will be released. On Thursday, the Aug ADP employment change is expected to increase by +80,000. Also, weekly initial unemployment claims are expected to increase by +1,000 to 230,000, and Q2 nonfarm productivity is expected to be revised upward to 2.7% from the previously reported 2.4%, with Q2 unit labor costs expected to be revised downward to 1.4% from 1.6%. In addition, the Aug trade deficit is expected to widen to -$78.0 billion from -$60.2 billion in June. Finally, the Aug ISM services index is expected to climb by +0.8 to 50.9. On Friday, Aug nonfarm payrolls are expected to rise by +75,000, and the Aug unemployment rate is expected to rise by 0.1 to 4.3%. Aug average hourly earnings are expected to increase +0.3% m/m and +3.7% y/y.
Regarding tariffs, a federal appeals court ruled late last Friday that President Trump exceeded his authority by imposing global tariffs without Congressional approval, but the court let the tariffs remain in place while appeals continue. The US Court of Appeals for the Federal Circuit Court said, "The statute bestows significant authority on the President to undertake a number of actions in response to a declared national emergency, but none of these actions explicitly include the power to impose tariffs, duties, or the like, or the power to tax." The case now appears to be headed to the Supreme Court for a final decision. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Federal funds futures prices are discounting the chances of a -25 bp rate cut at 95% at the next FOMC meeting on September 16-17. The markets are discounting the chances at 53% for a second -25 bp rate cut at the following meeting on October 28-29.
Overseas stock markets today are mixed. The Euro Stoxx 50 is up +0.63%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei Stock 225 closed down -0.88%.
Interest Rates
December 10-year T-notes (ZNZ5) today are up +12 ticks, and the 10-year T-note yield is down -4.5 bp to 4.217%.
Dec T-notes are moving higher today after the US Jul JOLTS job openings fell more than expected to a 10-month low, boosting the chances for a Fed interest rate cut at the September 16-17 FOMC meeting to 95%, according to the swaps market. Also, today's 2% fall in WTI crude prices has reduced inflation expectations as the 10-year breakeven inflation rate fell to a 1.5-week low of 2.406%, a bullish factor for T-notes.
However, T-notes remain under pressure from supply risks. About $55 billion of corporate debt securities are expected to be priced this week, which will prompt bond dealers to enter short positions on T-note futures as a hedge against the incoming supply. Also, investors are demanding higher yields for holding government debt in the face of spiraling budget deficits and sticky inflation. Finally, T-note yields are climbing on concerns over Fed independence, with President Trump trying to oust Fed Governor Cook. The worry is that Mr. Trump is trying to replace Cook and other Fed officials with policymakers more inclined to lower interest rates regardless of inflation risks.
European government bond yields today are moving lower. The 10-year German bund yield is down -3.9 bp to 2.747%. 10-year UK gilt yield fell from a 7.5-month high of 4.845% and is down -5.0 bp to 4.750%.
Eurozone July PPI eased +0.2% y/y from +0.6% y/y in June, slightly stronger than expectations of +0.1% y/y.
The Eurozone Aug S&P composite PMI was revised downward by -0.1 to 51.0 from the previously reported 51.1.
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
Alphabet (GOOGL) is up more than +8% to lead gainers in the S&P 50 and Nasdaq 100 after a judge ruled in an antitrust case late Tuesday that the company won't be forced to sell its Chrome browser.
Apple (AAPL) is up more than +3% to lead gainers in the Dow Jones Industrials after a court ruling stopped short of barring the company's lucrative search arrangement with Google, a deal that has generated roughly $20 billion in revenue a year for Apple.
The Campbell's Company (CPB) is up more than +4% after reporting Q4 adjusted EPS of 62 cents, better than the consensus of 56 cents.
Western Digital (WDC) is up more than +3% after Morgan Stanley named the stock its "Top Pick" with an overweight rating and a price target of $99.
Macy's (M) is up more than +19% after reporting Q2 net sales of $4.81 billion, better than the consensus of $4.71 billion, and raising its full-year net sales estimate to $21.15 billion-$21.45 billion from a previous estimate of $21.00 billion-$21.40 billion.
HealthEquity (HQY) is up more than +5% after reporting Q2 adjusted EPS of $1.08, stronger than the consensus of 92 cents, and raising its 2026 adjusted EPS forecast to $3.74-$3.91 from a previous estimate of $3.61-$3.78, above the consensus of $3.73.
Gold mining stocks are moving higher today, with the price of COMEX gold posting an all-time high. As a result, Anglogold Ashanti Plc (AU) is up more than +3% and Gold Fields Ltd (GFI) is up more than +1%.
Kraft Heinz Co (KHC) is up more than +1% after Morgan Stanley upgraded the stock to equal weight from underweight, citing reasonable valuation.
Dollar Tree (DLTR) is down more than -7% to lead losers in the S&P 500 after forecasting 2026 adjusted EPS of $5.32-$5.72, the midpoint below the consensus of $5.53.
Energy stocks and energy service providers are under pressure today with the price of WTI crude oil down more than -2%. ConocoPhillips (COP), Halliburton (HAL), and APA Corp (APA) are down more than -4%. Also, Occidental Petroleum (OXY) and Devon Energy (DVN) are down more than -3%. In addition, Exxon Mobil (XOM), Phillips 66 (PSX), and Schlumberger NV (SLB) are down more than -2%. Finally, Diamondback Energy (FANG) is down more than -3% to lead losers in the Nasdaq 100, and Chevron (CVX) is down more than -2% to lead losers in the Dow Jones Industrials.
Bruker Corporation (BRKR) is down more than -10% after announcing a public offering of $600 million of Mandatory Convertible Preferred Stock.
Smithfield Foods (SFD) is down more than -4% after announcing the launch of a secondary public offering of 16 million shares of common stock.
Hamilton Lane Incorporated (HLNE) is down more than -3% after announcing it has commenced an underwritten public offering of 528,705 shares of Class A common stock.
Zscaler (ZS) is down more than -2% after forecasting 2026 adjusted EPS of $3.64-$3.68, weaker than the consensus of $3.68.
Marvell Technology (MRVL) is down more than -2% as analysts have lowered their price targets for the stock by an average of 8.6% since it reported earnings last Thursday.
Earnings Reports(9/3/2025)
Dollar Tree Inc (DLTR), Gitlab Inc (GTLB), Hewlett Packard Enterprise Co (HPE), Macy's Inc (M), Salesforce Inc (CRM), The Campbell's Company (CPB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks and Bonds Climb as Weak Jobs Bolster Fed Rate Cut Chances

The Kraft Heinz Company (KHC) has announced plans to separate into two independent, publicly traded companies through a tax-free spin-off, with the transaction expected to close in the second half of 2026. The company’s board of directors unanimously approved the separation, citing increased strategic focus and reduced complexity as key drivers.
Kraft Heinz Separation Details
If all goes well, one of the resultant entities would be Global Taste Elevation Co., a global Taste Elevation and shelf-stable meals business with net sales of $15.4 billion and adjusted EBITDA of $4 billion in 2024. The company’s portfolio will include Heinz, Philadelphia and Kraft Mac & Cheese, with sauces, spreads and seasonings accounting for nearly 75% of sales. Emerging markets and away-from-home channels each contributed about 20% of 2024 net sales.
The second entity, North American Grocery Co., will focus on staples across the North American market with approximately $10.4 billion in net sales and $2.3 billion in adjusted EBITDA in 2024. Its portfolio will include Oscar Mayer, Kraft Singles and Lunchables, with roughly 75% of net sales coming from brands ranked #1 or #2 in their respective categories.
Kraft Heinz expects up to $300 million in dis-synergies tied to the transaction, but has identified opportunities to offset much of this impact. Both companies are targeting capital structures consistent with investment-grade credit ratings, while the current aggregate dividend level is expected to be maintained.
The separation will provide both companies with greater strategic and operational focus. This will also enable both companies to dedicate the right level of attention and resources to their brand portfolios, reduce operational complexity and drive stronger performance.
Shares of this Zacks Rank #3 (Hold) company have lost 2.6% in the past three months compared with the industry’s decline of 1.5%. The S&P 500 index has increased 9% in the same period.
KHC Stock Past Three Months Performance
Image Source: Zacks Investment Research
Is Kraft Heinz a Value Play Stock?
Kraft Heinz currently trades at a forward 12-month P/E ratio of 9.92X compared with the industry average of 15.9X and the sector’s 17.17X. This valuation positions the stock at a modest discount relative to both its direct peers and the broader consumer staples sector.
KHC Valuation Picture
Image Source: Zacks Investment Research
Stocks to Consider
Post Holdings, Inc. (POST) operates as a consumer-packaged goods holding company in the United States and internationally. It currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Post Holdings’ current fiscal-year sales and earnings indicates growth of 3.1% and 10.9%, respectively, from the prior-year levels. POST delivered a trailing four-quarter earnings surprise of 21.4%, on average.
The Chefs' Warehouse, Inc. (CHEF) distributes specialty food and center-of-the-plate products in the United States, the Middle East and Canada. It currently sports a Zacks Rank of 1. CHEF delivered a trailing four-quarter earnings surprise of 11.3%, on average.
The Zacks Consensus Estimate for The Chefs' Warehouse’s current fiscal-year sales and earnings indicates growth of 6.6% and 19.1%, respectively, from the prior-year levels.
Laird Superfood, Inc. (LSF) manufactures and markets plant-based, natural and functional food in the United States. It has a Zacks Rank #2 (Buy) at present. LSF delivered a trailing four-quarter earnings surprise of 11.3%, on average.
The Zacks Consensus Estimate for Laird Superfood’s current fiscal-year sales and earnings indicates growth of 21% and 23.8%, respectively, from the prior-year levels.
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Kraft Heinz to Split Into Two Companies: What Investors Should Know

The S&P 500 Index ($SPX) (SPY) on Tuesday closed down by -0.69%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.79%. September E-mini S&P futures (ESU25) fell -0.65%, and September E-mini Nasdaq futures (NQU25) fell -0.76%.
Stock indexes retreated on Tuesday, with the S&P 500 and Nasdaq 100 dropping to 1.5-week lows, and the Dow Jones Industrials falling to a 1-week low. Higher bond yields on Tuesday weighed on stocks and sparked risk-off sentiment in asset markets, with the 10-year T-note yield rising +5 bp to 4.28%. Global bond yields rose on Tuesday on concerns over government finances and lingering inflation risks.
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Stock indexes maintained their losses after Tuesday's US economic reports showed the Aug ISM manufacturing index rose less than expected and July construction spending declined for the third consecutive month.
The US Aug ISM manufacturing index rose +0.7 to 48.7, weaker than expectations of 49.0. The Aug ISM prices paid sub-index price unexpectedly fell -1.1 to a 6-month low of 63.7, versus expectations of an increase to 65.0.
US July construction spending fell -0.1% m/m, right on expectations, and the third consecutive month that construction spending has declined.
This week's USeconomic calendaris busy. On Wednesday, July JOLTS job openings are expected to fall by -64,000 to 7.373 million. Also, July factory orders are expected to drop -1.4% m/m. Finally, on Wednesday, the Fed's Beige Book will be released. On Thursday, the Aug ADP employment change is expected to increase by +80,000. Also, weekly initial unemployment claims are expected to increase by +1,000 to 230,000, and Q2 nonfarm productivity is expected to be revised upward to 2.7% from the previously reported 2.4%, with Q2 unit labor costs expected to be revised downward to 1.4% from 1.6%. In addition, the Aug trade deficit is expected to widen to -$78.0 billion from -$60.2 billion in June. Finally, the Aug ISM services index is expected to climb by +0.8 to 50.9. On Friday, Aug nonfarm payrolls are expected to rise by +75,000, and the Aug unemployment rate is expected to rise by 0.1 to 4.3%. Aug average hourly earnings are expected to increase +0.3% m/m and +3.7% y/y.
Regarding tariffs, a federal appeals court ruled late last Friday that President Trump exceeded his authority by imposing global tariffs without Congressional approval, but the court let the tariffs remain in place while appeals continue. The US Court of Appeals for the Federal Circuit Court said, "The statute bestows significant authority on the President to undertake a number of actions in response to a declared national emergency, but none of these actions explicitly include the power to impose tariffs, duties, or the like, or the power to tax." The case now appears to be headed to the Supreme Court for a final decision. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Federal funds futures prices are discounting the chances of a -25 bp rate cut at 92% at the next FOMC meeting on September 16-17. The markets are discounting the chances at 51% for a second -25 bp rate cut at the following meeting on October 28-29.
Overseas stock markets on Tuesday settled mixed. The Euro Stoxx 50 fell to a 3-week low and closed down -1.42%. China's Shanghai Composite closed down -0.45%. Japan's Nikkei Stock 225 closed up +0.29.
Interest Rates
December 10-year T-notes (ZNZ5) on Tuesday closed down -11.5 ticks, and the 10-year T-note yield rose +5.1 bp to 4.279%.
Dec T-notes retreated on Tuesday due to supply pressures. About $55 billion of corporate debt securities are expected to be priced this week, which will prompt bond dealers to enter short positions on T-note futures as a hedge against the incoming supply. Also, rising European government bond yields weighed on T-note prices, with the 10-year German bund yields climbing to a 5-month high and the 10-year UK gilt yield rising to a 3.25-month high.
T-note prices recovered from their worst levels after Tuesday's US economic reports showed the Aug ISM manufacturing index rose less than expected and July construction spending declined for the third consecutive month. Also, the unexpected decline in the Aug ISM prices paid sub-index to a 6-month low is supportive for T-notes.
European government bond yields on Tuesday moved higher. The 10-year German bund yield climbed to a 5-month high of 2.801% and finished up +3.9 bp to 2.786%. 10-year UK gilt yield rose to a 7.5-month high of 4.822% and finished up +5.0 bp to 4.800%.
The Eurozone Aug CPI rose +2.1% y/y, right on expectations. The Aug core CPI rose 2.3% y/y, stronger than expectations of +2.2% y/y.
ECB Executive Board member Schnabel said the ECB should maintain borrowing costs at current levels with inflation risks tilted to the upside.
ECB Governing Council member Muller said the ECB can afford to keep interest rates steady at next week's meeting as inflation hovers close to its target and the economy shows resilience.
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
The Magnificent Seven megacap technology stocks moved lower Tuesday and weighed on the overall market. Nvidia (NVDA), Amazon.com (AMZN), Apple (AAPL), and Tesla (TSLA) closed down more than -1%. In addition, Alphabet (GOOGL) closed down -0.72%, Meta Platforms (META) closed down -0.49%, and Microsoft (MSFT) closed down -0.31%.
Chip stocks retreated on Tuesday and pressured the broader market. ARM Holdings Plc (ARM) closed down more than -4%, and Lam Research (LRCX) and KLA Corp (KLAC) closed down more than -3%. Also, Microchip Technology (MCHP) and ASML Holding NV (ASML) closed down more than -2%. In addition, Applied Materials (AMAT), Analog Devices (ADI), Qualcomm (QCOM), ON Semiconductor Corp (ON), and Texas Instruments (TXN) closed down more than -1%.
Kraft Heinz Co (KHC) closed down more than -6% to lead losers in the Nasdaq 100 after announcing plans to split into two separate companies, one made up of its Heinz ketchup and other condiments and boxed meals, and one including grocery products.
Constellation Brands (STZ) closed down more than -6% after cutting its full-year EPS estimate to $11.30 to $11.60 from a previous outlook of $12.66.
Block Inc (XYZ) closed down more than -4% after BNP Paribas Exane downgraded the stock to neutral from outperform.
Commvault Systems (CVLT) closed down more than -3% after announcing it will offer $750 million of Convertible Senior Notes due 2030.
Fortinet (FTNT) closed down more than -2% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $67.
Cytokinetics (CYTK) closed up more than +40% after giving data for a late-stage trial of its experimental therapy for heart disease that Citigroup and other analysts said exceeded expectations.
Ionis Pharmaceuticals (IONS) closed up more than +35% after announcing that its Olezarsen drug significantly reduced triglycerides and acute pancreatitis events in Phase 3 CORE and CORE2 studies for people with severe hypertriglyceridemia.
United Therapeutics (UTHR) closed up more than +33% after announcing a late-stage study of its Tyvaso Inhalation Solution for the treatment of a lung disease met its primary efficacy endpoint.
Ulta Beauty (ULTA) closed up more than +8% to lead gainers in the S&P 500 after analysts raised their earnings estimate for the stock by an average of 7.1% since the company reported earnings last Thursday.
Air Lease Corp (AL) closed up more than +7% after a group led by Sumitomo Corp agreed to buy the company for about $7.4 billion, or $65 a share.
Biogen (BIIB) closed up more than +5% to lead gainers in the Nasdaq 100 after receiving FDA approval for its weekly lecanemab-irmb subcutaneous injection for maintenance dosing in patients with Alzheimer's disease.
PepsiCo (PEP) closed up more than +1% after the Wall Street Journal reported that Elliot Investment Management has built a $4 billion stake in the company and plans to push the board of directors to make changes.
Earnings Reports(9/3/2025)
Dollar Tree Inc (DLTR), Gitlab Inc (GTLB), Hewlett Packard Enterprise Co (HPE), Macy's Inc (M), Salesforce Inc (CRM), The Campbell's Company (CPB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Retreat as Bond Yields Climb

Tuesday, September 2, 2025
It was a noisy day where market participants fought conflicting impulses today. Is U.S. tariff policy illegal? What will happen to the already collected revenues if it is? Stock markets sold on this new “risk off” attitude, booking profits made most of the way through the month of August. We kick off the historically weak trading month of September with the Dow closing -0.55%, the S&P 500 -0.69% and the Nasdaq -0.60%.
Goldman Sachs GS was the worst-performing stock on the Dow index today, -1.9% while Kraft Heinz KHC fell -7%, the biggest loser in today’s S&P 500. Gold prices have reached a new all-time high today, +2.35% to a hair below $3600 per ounce. Bitcoin grew another +1.88% on the session, now at 111,313 in U.S. dollars.
Zscaler Beats & Raises in Q4, Shares Jump
Cloud security firm Zscaler ZS posted fiscal Q4 results after today’s close, beating estimates soundly on both top and bottom lines: earnings of 89 cents per share beat the Zacks consensus by 9 cents on $719 million in quarterly sales — beating the $706 million analysts were expecting. Billings came in notably higher than expected, and guidance for both next quarter and the full fiscal year have also been ratcheted up. Shares are up +5% in late trading.
Econ Reports Out Today: Manufacturing, Consumer Spending
Earlier today, we saw a few economic metrics hit the tape, including S&P Manufacturing PMI and ISM Manufacturing, both for the month of August. Results were subtly mixed between the two reports, with S&P coming in slightly below expectations at +53.0, down -30 basis points (bps) from the prior month, and up +20 bps on ISM from estimates, to +48.7%, and 70 bps above the month-ago tally. We still see ISM Manufacturing sub-50%, however — this demonstrates it is still in slight contraction mode. S&P Manufacturing remained above 50.
Construction Spending for July improved month over month, from -0.4% in June to -0.1% in this morning’s print, though still 10 bps below expectations. It’s now been 12 months since we last saw a positive Construction Spending report. Amusement and Recreation dropped by the sharpest level: -1.0%. Single-family housing construction was up +0.1% for the month.
What to Expect from the Stock Market Tomorrow
We’ll see the first Jobs Week report ahead of Wednesday’s opening bell: the Job Openings and Labor Turnover Survey (JOLTS) for July is expected to remain in-line with the previous month at 7.4 million job openings. This is within the range we’ve seen going back to late 2024, and is consistent with the overall “no hire/no fire” labor market that we’ve seen in other labor numbers.
Factory Orders, also for July, are also reporting tomorrow ahead of the open, improving to -1.3% from -4.8% reported for June. We’ll also see an August Beige Book from the BLS at 2pm ET Wednesday, and August Auto Sales are expected to be released throughout the day.
Even though Q2 earnings season is basically over, this week we’ll see a few important names coming out with quarterly numbers. After the close tomorrow, Salesforce CRM is expected to find +8.2% earnings per share growth in the quarter, +8.7% on revenues. The cloud-based play has only missed on earnings once in the past five years.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Markets Sell Off on Noise About Tariffs, etc.

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Kraft Heinz Co (Symbol: KHC), where a total of 56,062 contracts have traded so far, representing approximately 5.6 million underlying shares. That amounts to about 48.9% of KHC's average daily trading volume over the past month of 11.5 million shares. Especially high volume was seen for the $25 strike put option expiring September 19, 2025, with 3,127 contracts trading so far today, representing approximately 312,700 underlying shares of KHC. Below is a chart showing KHC's trailing twelve month trading history, with the $25 strike highlighted in orange:
Perpetua Resources Corp (Symbol: PPTA) saw options trading volume of 8,883 contracts, representing approximately 888,300 underlying shares or approximately 48.9% of PPTA's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $20 strike call option expiring September 19, 2025, with 1,927 contracts trading so far today, representing approximately 192,700 underlying shares of PPTA. Below is a chart showing PPTA's trailing twelve month trading history, with the $20 strike highlighted in orange:
And Roblox Corp (Symbol: RBLX) saw options trading volume of 44,231 contracts, representing approximately 4.4 million underlying shares or approximately 48.1% of RBLX's average daily trading volume over the past month, of 9.2 million shares. Particularly high volume was seen for the $135 strike call option expiring September 12, 2025, with 3,589 contracts trading so far today, representing approximately 358,900 underlying shares of RBLX. Below is a chart showing RBLX's trailing twelve month trading history, with the $135 strike highlighted in orange:
For the various different available expirations for KHC options, PPTA options, or RBLX options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Tuesday Option Activity: KHC, PPTA, RBLX

Key Points
Kraft Heinz said this morning it would split into two companies.
The business has struggled since it merged Kraft and Heinz a decade ago.
Warren Buffett, a major shareholder, was not pleased with the move.
Shares of Kraft Heinz (NASDAQ: KHC) were tumbling today after the packaged food giant said it would split into two companies, effectively unwinding a merger that created the behemoth 10 years ago.
Investors gave a thumbs-down to the deal, as Kraft Heinz stock has badly lagged its peers since the merger, and investors seem unconvinced that a split is the solution. As of 12:16 p.m. ET, the stock was down 6.7%.
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A big food divorce
The merger of Kraft and Heinz a decade ago attracted high-profile backers like 3G Capital and Warren Buffett's Berkshire Hathaway. However, the food giant struggled with shifting consumer tastes away from processed foods, as well as bloated valuations for its brands, which led to billions in write-downs.
In a press release this morning, the company said it would split into two companies, whose names would be chosen at a later date. The first, currently called "Global Taste Elevation Co.," will include brands like Heinz, Philadelphia, and Kraft Mac & Cheese and be based around sauces, spreads, and seasonings. The second, dubbed "North American Grocery Co.," will include Oscar Mayer, Kraft Singles, and Lunchables, and is made up primarily of brands that are No. 1 or No. 2 in their respective categories.
The argument for the breakup
Similar to past breakups, the companies are arguing that the move will reduce operational complexity and allow each company to allocate capital according to its strategic goals.
The decision comes after the company said in May 2025 that it was evaluating different transactions to unlock shareholder value. Still, investors seem unimpressed with the move and may have been hoping for a sale.
Also weighing in on the stock, Warren Buffett told CNBC he is "disappointed" with the split, saying he doesn't think it will solve the company's problems, which likely added to the sell-off.
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Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool recommends Kraft Heinz. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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