Was Jim Cramer Right About Kraft Heinz Company (KHC)?
We recently published a list of . In this article, we are going to take a look at where KHC stands against other stocks that Jim Cramer discusses.
Back in 2024, on May 17, a caller asked whether the potential sale of the Oscar Mayer brand would be good or bad for Kraft Heinz Company (NASDAQ:KHC) shareholders. Cramer dismissed its relevance, noting the brand's limited appeal and broader issues at Kraft:
'Okay, this is a great question because it's such a storied brand — but storied brands aren't going for a lot of money. Why? Because they're not considered to be fresh. They're just storied. I'm not saying they aren't fresh, but they're not considered to be by Wall Street. You're not going to find a lot of Oscar Mayer in Whole Foods. Therefore, I'm going to tell you — I think it's not that important. And Kraft Heinz, by the way, has a lot of products that I think are not that important — which is why I haven't recommended that stock in ages.'
Kraft Heinz continued to lag, falling 23.09% and confirming Cramer's negative outlook on its relevance.
A closeup of an assembly line worker inspecting a newly produced jar of condiments and sauces.
The Kraft Heinz Company (NASDAQ:KHC) is failing to inspire a turnaround as legacy brands like Oscar Mayer lose relevance with modern consumers. Cramer remains unimpressed with the stock. Here's what he replied to a caller when asked if they should buy in April this year:
'Waste of your capital. Waste of your capital. There's so many great stocks that have come down. I mean, unbelievable stocks that have come down so much that I can't believe it. And I think you just gotta change, I mean, look, we're looking at, for instance, Texas Roadhouse, okay. This one's come down gigantically. It is now incredibly inexpensive, and it's got what I regard as being a fantastic value proposition. I'd much rather see you in that than I would see in Kraft Heinz.'
Overall, KHC ranks 2nd on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of KHC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KHC and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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