Kraft Heinz (KHC) is showing improving market-share trends across several categories, supporting expectations for stronger growth beginning in 2027, RBC Capital Markets said Friday in a report.
Improvements are particularly evident in meats, where the market-share decline narrowed to 29 basis points over the latest four weeks from 107 basis points over the latest 52 weeks, the report said.
Lunch meats, the weakest of three subcategories, are showing a stronger acceleration, RBC said.
Across eight other categories, dollar market-share trends are mixed, though volume trends are generally improving, the report said. Refreshment beverages, frozen meals and sides, refrigerated snacks, and cheese remain the weakest categories, RBC said.
"Improvements at Kraft Heinz have become evident, but our due diligence would suggest the bulk of these benefits is likely to manifest in 2027 and beyond," the report said.
RBC has an outperform rating on Kraft Heinz stock and a $32 price target.
Price: 24.76, Change: -0.34, Percent Change: -1.34
