New York (CNN Business) Kraft Heinz was crushed like an overripe tomato Thursday after Goldman Sachs cut its rating on the struggling food company to a "sell," citing concerns about a "persistent" decline in profit.

Kraft Heinz KHC Cisco Systems CSCO Shares offell more than 6% following the downgrade. It was the second-worst performer in the S&P 500, trailing only tech giant, which tumbled 7% after issuing a weak outlook after the closing bell Wednesday.

Anheuser-Busch InBev BUD Kraft Heinz, which namedveteran Miguel Patricio as its new CEO earlier this year, had rallied lately following its last earnings report at the end of October. Wall Street seemed excited by the fact that profit topped forecasts, even though sales continued to fall.

But Goldman Sachs analyst Jason English argued in his report Thursday that the 15% spike since that release was overdone. English has a price target of $29 on Kraft Heinz. Shares were trading just below $31 on Thursday.

English added that Kraft Heinz may take a short-term hit if it sells some brands that the company feels might be "too expensive to turn around." And he said that the company, which already slashed its dividend by 36% earlier this year, may need to cut it again to shore up cash. English is now one of five Wall Street analysts who have Kraft Heinz rated a "sell."