Why Kraft Heinz Stock Gained 16% in October
Kraft Heinz (NASDAQ: KHC) shareholders beat the market last month as the stock gained 16% compared to a 2% increase in the S&P 500 index, according to S&P Global Market Intelligence. The rally erased only some of investors' recent losses on this struggling stock, though, and shares are still down over 20% so far in 2019 compared to a surge of over 22% in the S&P 500.
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October's rally came almost entirely on the month's final trading day, following Kraft Heinz's third-quarter earnings report. In that announcement, CEO Miguel Patricio and his team revealed continued sales and profit challenges but nonetheless issued positive comments about the future. Revenue trends improved slightly, with organic sales falling 1.1% compared to 1.5% in the second quarter.
Source Fool.com
