Kraft Heinz (KHC) stock is down about 1% Thursday, after the company reported earnings Wednesday night.

Earnings of 83 cents per share beat analysts' estimates by a penny, but revenue came up short, growing just 0.7%. Organic sales were even worse, rising just 0.3%. In a market like this, sub-1% growth just doesn't work, TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment.

"That's unacceptable," he continued, pointing out that other areas of the market are growing much faster, with many stocks sporting double-digit or high single-digit growth rates.

Kraft Heinz has relied on cost-cutting to drive its performance. But management can't cost-cut forever. It owns too much product in the center aisles of the grocery store. Whereas a company like Tyson Foods (TSN) is in a better location throughout the stores, he said. Incidentally, Tyson had near-5% revenue growth last quarter.

Perhaps Kraft Heinz should consider an acquisition. A massive $143 billion bid for Unilever (UL) failed to make much traction earlier this year. Cramer suggested Pinnacle Foods (PF) , although its $6.5 billion market cap may be too small to move the needle. Mondelez  (MDLZ) , which just reported organic revenue growth of 2.8% this quarter, could also be on the radar. Although admittedly this move seems unlikely as Warren Buffett recently shot down the idea

Cramer has been critical of the premium investors who seem willing to pay for low-growth stocks, particularly when they could own higher-growth stocks at a reasonable price, such as Apple (AAPL) .

Despite the early session selloff, Kraft Heinz stock actually closed higher Thursday, up 0.42% to $78.03 near session highs. 

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