Where's that Cookie Monster when you need him? Kraft Foods (NYSE:KFT) reported third-quarter earnings down 6% Wednesday, citing, among other factors, sluggish demand for cookies as well as chocolate and coffee due to Europe's record heat wave.

Kraft's product portfolio includes brands like Nabisco and Post, not to mention the eponymous cheese line. Jell-O, Altoids, DiGiorno, Maxwell House, and Oscar Mayer are also all under the Kraft umbrella.

But when it comes to cookies, which include Oreos, Chips Ahoy, and Animal Crackers, Kraft complains of higher prices and a lackluster impact of new products.

So who is filling the cookie jar? Rival Campbell's (NYSE:CPB) reported robust fourth-quarter results, driven by -- you guessed it -- biscuits and confectionery, which includes Pepperidge Farm.

You may recall, Kraft missed earnings in its second quarter due to an extra $200 million allotted for marketing, which adds insult to injury, given that a little salesmanship might be just the ticket to infuse some life in flagging sales. The final twist: Kraft's proactive anti-obesity initiative.

While a proactive approach to rising obesity is socially responsible, it has Kraft sounding a bit like a cigarette manufacturer. For example, Kraft has pledged to stop marketing its products in schools, and to keep a careful eye on how it markets to children, period.

Then again, Kraft is majority owned by Altria (NYSE:MO), the old Philip Morris. While the diversification of Philip Morris into Kraft foods still seems shrewd, who could have guessed that obesity would become the biggest public health "crisis" since smoking?

If nothing else, it will be interesting to watch Kraft try to boost its sales while pushing for moderation and healthy lifestyles. Let's just hope it does it soon, so it won't need to rethink that nice boost in its quarterly dividend discussed here back in August.

If you're wondering if there might be better stocks than Kraft for dividend rewards right now, remember The Motley Fool Income Investor is all about dividend investing.

Alyce Lomax welcomes your feedback at alomax@fool.com.