BTTR - Packaged food stocks slip after General Mills hits an inflation headwind

A tough read on the impact of cost inflation from General Mills (GIS -4.2%) today with its earnings report is weighing on packaged food peers. Decliners on an up day for the broad market include Kellogg (K -2.3%), J.M. Smucker (SJM -2.3%), Hormel Foods (HRL -2.0%), Sovos Brands (SOVO -4.4%), McCormick & Company (MKC -1.2%), Campbell Soup (CPB -1.5%) and Better Choice Company (OTCQX:BTTR -5.6%). General Mills pointed to an unprecedented combination of input cost inflation and supply chain disruptions during its FQ2. The company's higher pricing during the quarter was not enough to hit the consensus EPS mark. Jefferies says the warning from GIS execs on margin headwinds for the upcoming quarters is also a factor in the selling pressure today. Read more about General Mills' earnings report.

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Packaged food stocks slip after General Mills hits an inflation headwind