Goldman Cautious On Packaged Food Sector

Goldman Sachs is cautious on the packaged food sector, including Kraft KFT. In a note sent to investors Goldman writes, "We are upgrading our assessment of the coffee category on the follow-through of meaningful price growth. We are downgrading our assessment of the cookie category as KFT takes a more aggressive posture into the holiday season. While dynamics aren't overly alarming, we can no longer proclaim the promo environment benign in the cookie category." Shares of KFT lost 34 cents on Friday to close at $30.75.