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While Kraft Heinz Co's (NASDAQ:KHC) fundamentals "remain soft," the stock is under pressure due to a possible sale by the largest shareholder, Berkshire Hathaway Inc (NYSE:BRK), according to BofA Securities.
The Kraft Heinz Analyst: Analyst Peter Galbo maintained an Underperform rating, while reducing the price target from $29 to $27.
The Kraft Heinz Thesis: The company has announced plans to be split into two independent, publicly traded companies through a tax-free spinoff that would be completed in the second half of 2026,Galbo said in the note.
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The placeholder names are Global Taste Elevation Co, which will retain the Taste Elevation platform and Shelf Stable Easy Ready Meals, while North American Grocery Co will retain the rest of the business, he added.
"Our assumptions did not include Shelf Stable Easy Ready Meals within Taste Elevation, which expands the size of the company, likely adding more roadblocks for the standalone to be a potential acquisition target," the analyst wrote.
Berkshire Hathaway, which has a 27.5% stake in Kraft Heinz, spoke to CNBC about its disappointment in the split, he further stated.
KHC Price Action: Shares of Kraft Heinz had risen by 2.00% to $26.54 at the time of publication on Wednesday.
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