Is Kraft Heinz doomed?

Is consumer-packed goods giant Kraft Heinz doomed?

I recently read an analysis that clearly outlined how Kraft Heinz's stock has underperformed over the last five years.

If you're a Kraft-Heinz shareholder, you're likely as unhappy as Berkshire Hathaway, whose new CEO, Greg Abel, wrote in his most recent Letter to Shareholders: "Our investment in Kraft Heinz has been disappointing. Even after considering the preferred equity component in our original Heinz investment, our return has been well short of adequate."

Ouch.

But facts are facts: the stock has not performed.

Yes, as Brian Sozzi, Executive Editor at Yahoo Finance, lists in the post that prompted this one, they do have several "historically beloved" brands that may no longer be relevant to today's consumers; I have four children, and I have never, not once, bought three of the four brands he mentions. (The exception? Kool-Aid.)

And yet... look at some of the OTHER brands in the portfolio:

Kraft is still an extremely strong cheese brand. (Can you name one stronger?)

Heinz Ketchup IS ketchup! And creative agency RETHINK continues to produce incredible (and incredibly relevant) work to reinforce that fact.

Philadelphia IS cream cheese! And the light version isn't terrible for you.

JELLO?!? What parent among us hasn't bought and made Jello for a sick kid? Who among us of a certain age hasn't sung the jingle or done a Jello Pudding Pop impression (you know the one)? It may not be great for you, but it's a great brand when you need some comfort.

Mac & Cheese is a beloved brand. Unfortunately, it's currently sitting "in the middle" between higher-end brands (Annie's) and private label, but that's a positioning problem that can be addressed with time, effort, and investment.

I could go on, but I think you get the idea.

I don't work for Kraft Heinz, and I never have.*

I don't own shares.

But I certainly don't believe Kraft Heinz is doomed.

Kraft Heinz CEO Steve Cahillane is a terrific operator; I believe this because I got to see him work (from a distance) when we were both at Coca-Cola.

And the $600 million investment into the business that Kraft Heinz's Board of Directors recently approved isn't chump change, and can make a real difference if deployed well.

(And Todd Kaplan is the type of exceptional marketer who knows how to do that.)

If those dollars are used to address their positioning (i.e. Mac & Cheese "in the middle", etc.) and innovation (i.e. make it "better for you") gaps with consumers, Kraft Heinz may end up stronger than ever.

And if you're like me, a marketer who loves a good challenge and knows how to spend marketing dollars for maximum business impact, Kraft Heinz is sure to be a great place to work over the next decade as a result.

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* They've interviewed me and turned me down three separate times throughout my career to date, almost once a decade! But, hey, who knows... maybe the fourth time's a charm?