These 6 Food Stocks Have Gotten Hit Hard. It’s Time to Chow Down.

Food stocks are worth a nibble after their worst showing relative to the S&P 500 in more than 20 years.

Dividends are ample and look well-covered by earnings, too. Many food companies sport dividends ranging from 3.5% to nearly 5%, while the average dividend payout ratio is around 50%. Leverage ratios are at multiyear lows, leaving more room for higher dividends or stock buybacks. Another issue is “Ozempic risk,” namely that the explosive growth of effective diet drugs like Novo Nordisk’s Ozempic and Eli Lilly’s Mounjaro will curb outsize American appetites. The Ozempic impact can’t yet be quantified, writes J.P. Morgan analyst Ken Goldman, and that hasn’t helped the stocks, since investors fear the worst. And even dividend yields of 4% don’t look as compelling in a world of 5% short-term rates.

Smith, citing “a strong and accelerating growth outlook,” has a Buy rating and $86 price target on Mondelez, up 22% from Thursday’s close of $70. Kraft won’t wow anyone with its growth. Its earnings are expected to increase by just 4% this year to $2.90 a share and by 3% in 2024 to almost $3 a share. Still, its $1.60 annual dividend, which has been unchanged since 2019, looks increasingly secure as debt levels have come down.• Kellogg. It plans to split into two companies in the fourth quarter, executing a plan unveiled last year.

Spin-Off Research’s Joe Cornell values Kellanova at $68 a share and $4.50 a share for WK Kellogg for a total value of $72.50, up more than 20% from a recent $59.37.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Inflation, Interest-Rate Worries Drag Stocks DownwardStocks slumped after investors received a fresh sign that the U.S. economy could be revving up, fanning inflation fears.
출처: WSJ - 🏆 98. / 63 더 많은 것을 읽으십시오 »

Goldman reveals its 'most preferred' sector of China tech and names stocks on its conviction listGoldman named four buy-rated stocks, two of which are on its conviction buy list. It gave one stock as much as 45% potential price target upside.
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »

Asian stocks fall amid economic gloom, tech hit by U.S.-China woes By Investing.comAsian stocks fall amid economic gloom, tech hit by U.S.-China woes
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »

Bitop Exchange Launches Enhanced Crypto, Stocks,Commodities, and Binary SolutionsBitop, the regulated cryptocurrency exchange, has unveiled enhancements to its core products to better meet the needs of retail and institutional clients
출처: Crypto_Potato - 🏆 568. / 51 더 많은 것을 읽으십시오 »

European stocks slip; German industrial production weaken further By Investing.comEuropean stocks slip; German industrial production weaken further
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »

European stocks weaken; German industrial production falls further By Investing.comEuropean stocks weaken; German industrial production falls further
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »