Dear Kraft Heinz Stock Fans, Mark Your Calendars for September 14
September 14 marks a new chapter for Kraft Heinz as KHC prepares to move from the Nasdaq to the NYSE.
From ketchup and cheese to sauces and other household food staples, Kraft Heinz Company (KHC) has built a portfolio that has become a familiar name in kitchens worldwide. Now, the food giant is making a small but notable change on Wall Street, and KHC stock investors may want to mark their calendars. No, it is not about a new product hitting grocery shelves. This time, the change is happening on Wall Street.
Kraft Heinz is moving its stock listing from the Nasdaq ($NASX) to the New York Stock Exchange (NYSE) on Monday, Sept. 14. The company has traded on the Nasdaq since 2015, following the merger of Kraft Foods and H.J. Heinz. The food giant has called the NYSE its "natural home" as it moves into what CEO Steve Cahillane describes as its next chapter.
However, the move comes as KHC stock slipped slightly, giving investors a reason to pay attention.
But the NYSE switch is only one piece of the KHC story. Let's dig into some of the other developments investors should have on their radar before Sept. 14.
Think of the brands that regularly show up in grocery carts and kitchen cabinets, and Kraft Heinz is likely behind more than a few of them. Based in Pittsburgh, Pennsylvania, the food and beverage giant serves consumers across more than 40 countries through a portfolio of familiar names, including Heinz, Kraft, Philadelphia, Primal Kitchen, and Lunchables.
The company makes and markets everything from dairy products and sauces to flavored milk powders and other everyday foods. With a market capitalization of $29.4 billion, Kraft Heinz has built its business around a simple idea of keeping food tasty, affordable, and relevant while finding new ways to make its iconic brands matter to consumers.
KHC stock has had a challenging run, down 9.9% over the past 52 weeks and currently trading 10.5% below its July high of $28.09. There have been a few brighter spots along the way, with the stock gaining 3.1% over the past three months. However, recent momentum has softened, as shares slipped 4.2% over the past month and dipped 1.7% during the past five trading sessions.
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