Kraft Heinz (KHC) shares gained after report it's shopping Breakstone's dairy brand

NASDAQ: KHC | The Kraft Heinz Company News, Ratings, and Charts

KHC – CNBC reported that the sources that said it is looking to sell the business believe it is valued at about $400 million.

Kraft Heinz Co. KHC, +0.47% shares gained about 1% in after-hours trading Tuesday afternoon after a report said that it is shopping its Breakstone’s dairy business. CNBC reported that the sources that said it is looking to sell the business believe it is valued at about $400 million. The food conglomerate said last month in its earnings report that it was considering selling more of its brands, after already announcing two planned divestitures, including its Canadian natural cheese business. CNBC previously reported that the Maxwell House coffee business is also being considered for a sale. The stock is down more than 50% in the past year after plunging to record lows after reporting earnings last month.

Kraft Heinz Co. shares were trading at $32.14 per share on Wednesday morning, up $0.15 (+0.47%). Year-to-date, KHC has declined -24.41%, versus a 12.68% rise in the benchmark S&P 500 index during the same period.

KHC currently has a POWR Rating of D (Sell), and is ranked #40 of 56 stocks in the Food Makers category.

This article is brought to you courtesy of MarketWatch.

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