Bernstein Downgrades Kraft Heinz Amid Concerns Over New Growth Strategy
On June 3, Bernstein analyst Alexia Howard downgraded The Kraft Heinz Company (KHC) to Underperform from Market Perform and lowered its price target. She expressed concerns over the sustainability of new CEO Steve Cahillane's growth strategy, which includes $600 million in investments that could increase leverage and dividend payout ratios.
Tickers: $KHC
Topics: Bernstein Dividend Strategy Financial Sustainability Growth Plan Kraft Heinz