Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism

BofA Securities analyst Bryan D. Spillane reiterated the Buy rating on The Kraft Heinz Company KHC, raising the price forecast to $40 from$38. Yesterday, the company reported a second-quarter FY24 sales decline of 3.6% year-on-year to $6.48 billion, missing the analyst consensus estimate of$6.55 billion. Sales in North America declined 3.1% Y/Y, and International Developed Markets dropped 5%. Organic net sales slipped 2.4%. Spillane highlights that total company price contribution for the year is now expe ...