Is It Time to Buy the Nasdaq's 6 Worst-Performing June Stocks?
A packaged foods giant  Kraft Heinz (NASDAQ: KHC) shares fell 7% in June. It operates a relatively stable, mature, low-growth business with a number of popular consumer food brands. Though it was strong in the second half of last year, investors have been lukewarm since 2017 as the company has struggled to produce sufficient cash flow and manage its debt. However, the past few years have seen progress on both fronts. The company delivered $4.8 billion of free cash flow over the past year, and it's reduced long-term debt by more than $7 billion from its recent peak. The stock has struggled for a few reasons. Kraft Heinz is in a tough spot given the current inflation pressures across the economy. Rising prices make food production more expensive, but it's difficult to fully pass those costs on to consumers in a competitive environment. This has investors concerned about profitability over the next few years. It's also challenging for a no-growth stock to attract investors when there are so many interesting growth stories around. Kraft Heinz is purely an income play at this point. That narrative could be threatened if profits contract while the company is also aggressively eliminating debt.