Aug. 20 at 4:29 PM
JP Morgan initiated coverage on U.S. food producers, retailers, and ag companies, highlighting McCormick , Albertsons , Hormel, and Smucker as top picks, while cautioning on Beyond Meat and General Mills . The bank favors food retailers over producers, expecting supermarkets to benefit from persistent inflation and consumers seeking higher-margin, healthier products. MKC, ACI, Hormel, and Smucker were rated Overweight; BYND and GIS Underweight. Analysts cite MKC’s recent dip, ACI’s operational improvements, Hormel’s margin gains, and Smucker’s snack/pet food recovery, while noting weak demand and cash burn for BYND and limited upside for GIS.
$JPM $GIS $BYND $MKC $ACI