It reports Wednesday. He suspects shares have been out of fears of the new weight-loss drugs eating into their snack-food sales. That said, every package food company that has reported has reported no slowdown, and those stocks rallied. GIS also had a good pet food business.
They report Wednesday; can they turn things around after sales faltered last quarter? Their high-end pet food business has stalled and Zoetis revealed that pet spending is slowing.
Their outlook is dimming as the wider economy weakens, and they're shifting to more value-oriented products for pets. He thought pet food was a more reliable product category but now this is can be slippery.
Up 29% this year. They report Tuesday. They've gotten away with global price increases, because they have the best brands, including pet food. Even reporting a great number, he doesn't know how much more it can rally. But the market is getting oversold, so GIS can still work.
Reported a winning quarter today. Organic net sales jumped, operating profit up 85%, and announced a 6% dividend boost. They re-shuffled their portfolio to emphasize high-end pet food (up 22%) and food service (25%). Shares jumped 6% to a new high today, but would've gone higher if not for market negativity.
Many are worried that inflation (freight, boxes) is hitting them. A government report about corn production could slam commodities, but benefit General Mills. Also, they make a leading dog food. They report Wednesday.
They reported a super quarter this morning, but managers warned that growth may decline during the reopening. GIS shares fell 4.2% today. Buy this on dips.
A pantry stock. Is it still on a bear run as vaccincations pick up? He thinks the stock will be tepid. Then again, Smucker's surprised to the upside and he likes Hormel a lot. GIS reports Wednesday.
He expects their report to be better-received than Campbell's recently. Baking remains big during lockdowns, which is a tailwind. However, their packaged goods will lose some of their shine as vaccines appear.
A consumer defensive name just reported a great quarter and raised its dividend to 3.5%. These days he's buying big tech that's 25% off its highs and defensives that pay over a 3% dividend. It's come down from $66 to $57, which is a buying opportunity.