This Ridiculously Cheap Warren Buffett Stock Could Help Make You Richer
Investors watching Kraft Heinz (NASDAQ: KHC) since 2015's merger of Kraft Foods and H.J. Heinz probably know the pairing hasn't panned out as well as initially hoped. Even Warren Buffett -- who largely orchestrated the deal -- now concedes he misjudged the math that motivated the pairing.
The giant food company is neither achieving the cost savings nor the sales leverage it expected from the merger. The COVID-19 pandemic followed by rampant inflation only made matters worse. That's why the stock's gone nowhere for the past three years.
A funny thing's now happening, though. While last quarter's results were less than thrilling, a light's starting to shine at the end of the tunnel -- and it's not an oncoming train. Relatively new CEO Carlos Abrams-Rivera seems to have a handle on where the company is and where it needs to go next.
Source Fool.com
