Jim Cramer Shared His Takes on These 16 Stocks

7. The Kraft Heinz Company (NASDAQ:KHC)

Number of Hedge Fund Holders: 50

The Kraft Heinz Company (NASDAQ:KHC) is one of the stocks Jim Cramer shared his take on. Inquiring about the stock, when a caller mentioned that Warren Buffett is getting rid of his 28% share in the stock, Cramer commented:

Well, okay, so we know that it’s not Warren. It’s the new fellow that took it over, and he doesn’t, look, I don’t blame him. He doesn’t want to have the position on his sheets. I do like Steve Cahillane, he’s the new CEO. He came from Kellogg. But Ben Stoto and I kicked this one around, and we decided we just couldn’t get behind it. There’s not enough good happening in the food business. I’m a seller, not a buyer.

The Kraft Heinz Company (NASDAQ:KHC) produces food and beverage products, including condiments, dairy, meals, meats, beverages, and snacks, under brands such as Kraft, Heinz, Oscar Mayer, and Philadelphia. During the January 6 episode, Cramer highlighted the company’s new CEO, as he said:

Interestingly, Steve (Steve Cahillane) just started CEO at another underperforming food company, Kraft Heinz, January 1st. Nobody seems to care, just like no one cared when he took over Kellogg’s. People have written off Kraft Heinz repeatedly, which is supposed to split into two companies in the second half of the year. Now, I’m not sure Steve wants to go with that breakup. What I do know is that he is the right guy to orchestrate this, given how much value he created by breaking up Kellogg, despite what’s supposed to be a very tough environment. Now, I have my doubts when Steve came on the show and announced the split, but my doubts were, let’s say, ill-advised. Maybe he can prove me wrong again on Kraft Heinz.