Kraft Heinz (KHC) ended 2017, which was already a soft year, on a bad note. This was admitted by CEO Bernardo Hees at the start of the press release, indicating that "there is no question that our financial performance in 2017 did not reflect our progress or potential." I can only fully agree with this statement as there was no progress in 2017, with the only bright news being the positive impact of a softer dollar and tax reform, having the potential to boost 2018 earnings a bit. Of course, these are external events and the internal performance has been a year of complete standstill.
Despite the operational struggles, a leveraged balance sheet and already high margins, I do see appeal after shares have been lagging so long, so much. If shares dip towards the mid-sixties, I am attracted to a solid dividend yield and iconic brands, as well as reasonable earnings multiples.
