KHC - This Iconic Stock Is Down More Than 60%. Time to Buy the Dip?
With a family of eight brands worth $1 billion-plus each, Kraft Heinz (NASDAQ: KHC) has a solid footing in the consumer staples sector. But the stock has fallen nearly 63% from its 2017 highs. What caused the plunge? And can the shares make a comeback?
On the hopeful side, Kraft Heinz just affirmed its financial guidance, lowered its leverage target, and provided details on its long-term growth strategy -- including an emphasis on its food service (that's food served outside of the home in such places as hotels and restaurants).
Let's take a closer look at the company and where it could be headed.
For further details see:
This Iconic Stock Is Down More Than 60%. Time to Buy the Dip?