3 foods people are still devouring during the COVID-19 pandemic
Brian Sozzi, Yahoo Money
April 28, 2021
Packaged food stocks have become spoiled trades thus far in 2021 as Wall Street frets about a growth slowdown later this year with people becoming more mobile after getting their COVID-19 vaccine.
Year-to-date, shares of beverage giants Coca-Cola and PepsiCo are down 2.1% and 3.8%, respectively despite each putting up impressive first quarters this month and solid outlooks. The S&P 500 is up a tasty 11% in 2021, by comparison.
Meanwhile, food company stocks have fallen out of favor with investors, too. Frozen food behemoth Conagra has seen its stock only gain 2% this year. Campbell Soup shares are down 1.2%. Spam maker Hormel shares have shed 1%.
Despite the unsavory performance of their stocks, Big Food is still seeing some very large increases in demand for their products amidst the pandemic. Downbeat Wall Street may not want to hear it right now, but the latest sales gains in things like cereal suggest eating-at-home won't experience a drastic falloff later this year and into 2022 as human mobility returns...
Frozen food ...
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