In a regulatory filing dated January 20, Berkshire Hathaway disclosed it may sell up to 325,442,152 shares of Kraft Heinz common stock, representing its entire 27.5% stake. The move follows a second-quarter adjustment in which Berkshire wrote down the book value of its KHC position by approximately $3.8 billion after taxes. Berkshire Hathaway’s new CEO, Greg Abel, informed Kraft Heinz management of the intention to unwind the position following Warren Buffett’s reported disappointment over KHC’s planned corporate split.

Kraft Heinz shares fell sharply on the news, trading down as much as 7% intraday and reaching their lowest level since March 16, 2020. Year-to-date, the stock is down around 12%, while over the past 12 months it has declined 23.5%. Overhead resistance at the 60-day moving average has capped rallies for several months. At last close, KHC was trading near $22.00, a level not seen since early in the Covid-19 sell-off.

Of the six Wall Street analysts covering KHC, five maintain neutral ratings and one recommends selling the shares. BNP Paribas Exane recently downgraded the stock from Neutral to Underperform, cutting its 12-month price target to $22 from $24. Visible Alpha data show consensus revenue and EBITDA estimates for fiscal 2026 at $29.8 billion and $7.3 billion, respectively—figures roughly flat year-over-year.

Since the 2015 merger of Kraft and Heinz, KHC shares have lost nearly 70% from their 2017 highs as the company grappled with changing consumer tastes and competitive pressures. Kraft Heinz plans to complete a split into two separate businesses in H2 2026 to streamline operations and sharpen brand focus. Management projects cost savings of $325 million annually post-breakup, but investors have shown limited enthusiasm, leaving the shares range-bound around pre-split levels.