BRBR - Food stocks perk up as price increases roll across the sector

The package food and beverage sectors are having a strong day after investor presentations today by General Mills (GIS +4.6%) and Kraft Heinz (KHC +4.4%) indicate the companies are offsetting inflation pressures through pricing actions and efficiency initiatives. The general sense is that more companies will follow with price increases in certain categories. Gainers include Simply Goods Goods (SMPL +2.9%), Conagra Brands (CAG +2.0%), Post Holdings (POST +2.0%), B&G Foods (BGS +1.5%), Hostess Brands (TWNK +1.6%), J.M. Smucker (SJM +1.7%), Hain Celestial (HAIN +2.0%), BellRing Brands (BRBR +1.3%), Campbell Soup (CPB +1.2%), Celsius Holdings (CELH +1.5%), Keurig Dr Pepper (KDP +1.3%), PepsiCo (PEP +1.1%) and Monster Beverage (MNST +1.3%). The Invesco Dynamic Food & Beverage ETF (PBJ +0.8%) is outperforming the S&P 500 Index on the day. Read the GIS Barclays conference transcript for more details on the pricing moves.

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Food stocks perk up as price increases roll across the sector