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The Kraft Heinz Co KHC

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Economic Moat




Kraft Heinz Cooks Up a New Recipe to Ignite Sustainable Growth; Investors Should Warm to Shares

Erin Lash, CFA Sector Director

Analyst Note

| Erin Lash, CFA |

On Sept. 15, no-moat Kraft Heinz’s CEO Miguel Patricio finally held court, laying out the strategic agenda he’s been crafting since taking the helm in mid-2019. As we expected, his plan is anchored in pursuing sustainable efficiencies (versus blindly rooting out costs), as the company opts to elevate its brand spending (marketing and product innovation), enhance its capabilities (category management and e-commerce), and leverage its scale to more nimbly respond to changing market conditions.

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Company Profile

Business Description

In July 2015, Kraft merged with Heinz to create the third- largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth- largest player in the world. Beyond its namesake brands, the combined firm's portfolio includes Oscar Mayer, Planters, Ore-Ida, and Philadelphia. Outside North America, the firm's global reach includes a distribution network in Europe and emerging markets that drive around one fifth of its consolidated sales base, as its products are sold in more than 190 countries and territories around the world.

One PPG Place
Pittsburgh, PA, 15222
T +1 412 456-5700
Sector Consumer Defensive
Industry Packaged Foods
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 28, 2020
Stock Type Slow Growth
Employees 37,000