SMPL - Investors keep nibbling on food stocks as recession fears linger

Food stocks generally outperformed again on Monday as investors continue to take shelter in consumer defensive names. An upgrade from Stephens on Simply Goods Foods (SMPL) to Overweight from Equal-weight and a potential asset sale for TreeHouse Foods (NYSE:THS) were also in the spotlight. Simply Good Foods Company (SMPL) +6.15%, Pilgrim's Pride Corporation (PPC) +4.15%, The Chefs' Warehouse (CHEF) +4.11%, SpartanNash Company (SPTN) +3.85%, TreeHouse Foods (THS) +2.95%, G. Willi-Food International (WILC) +2.52%, AMCON Distributing Company (DIT) +2.20%, United Natural Foods (UNFI) +1.84% and Sanderson Farms (SAFM) +1.75% were all notably higher. Per the last round of earnings reports, many packaged food sellers, meat companies, and food suppliers have passed off their higher inflation costs to consumers and customers. Invesco Dynamic Food & Beverage ETF (PBJ) has gained 5.40% in 2022 vs. the 7.54% drop for the S&P 500 Index. Top PBJ holdings include Archer-Daniels-Midland (ADM), Constellation Brands (STZ), Hershey (HSY),

For further details see:

Investors keep nibbling on food stocks as recession fears linger