NBEV - Volatile trading on food and beverage stocks as commodity inflation macro backdrop weighed

Food and beverages stocks saw broad losses on Monday on concerns that higher commodity prices will cut into profitability this year with consumers starting to push back on higher prices. Corn, wheat and aluminum have all spiked since Russia invaded Ukraine with the prospect of supply issues adding to macroeconomic concerns in general. Celsius Holdings (CELH -8.2%), Coca-Cola Europacific Partners (CCEP -7.0%), Monster Beverage (MNST -6.8%), NewAge (NBEV -5.5%), Oatly Group (OTLY -5.7%), Zevia (ZVIA -2.0%), Primo Water (PRMW -6.2%), Anheuser-Busch InBev (BUD -4.9%), Lamb Weston (LW -7.3%), Pilgrim's Pride Corporation (PPC -6.4%), Nomad Foods (NOMD -4.9%), TreeHouse Foods (THS -3.7%), Post Holdings (POST -3.4%) and BRF S.A (BRF -3.8%) were some of the notable decliners. Not all foods stocks spun lower with defensive names like Sovos Brands (SOVO +3.2%), J.M. Smucker (SJM +2.0%), Kellogg (K +1.6%), Kraft Heinz (KHC +0.8%) and B&G Foods (BGS +1.8%) holding up due chiefly

For further details see:

Volatile trading on food and beverage stocks as commodity inflation, macro backdrop weighed