KRFT has moved up sharply since I called it a buy last fall. The company's earnings estimates have also come down, strengthening the overvaluation argument. I think shares should trade back down towards the 200DMA which would bring the stock back in line with expectations. Kraft Foods (NASDAQ:KRFT) has proven itself to be a worthy dividend stock since being spun out of what is now Mondelez (NASDAQ:MDLZ). The company's strong payout has risen each year since becoming independent and is now a robust $2.20 per share. Last time I wrote about Kraft I recommended buying the packaged food giant for its very attractive combination of valuation and yield. But since that time the stock has moved up from $55 to $64, decreasing its yield and making the valuation picture look a little less rosy. So in light of that, I thought now would be a good time to take a fresh look at Kraft to see if it still represents value in the mid-$60s or if it's time to perhaps take profits and look for another dividend stock with a better valuation.Read More Here!