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May 27, 2014, 10:11 AM
- Shares of Tyson Foods (TSN +3.5%), Hormel (HRL +2.6%), and Sanderson Farms (SAFM +2.5%) all trade higher after the merger profile of the sector gets a lift from Pilgrim Pride's aggressive pursuit of Hillshire Brands.
- Though food industry analysts see long-term potential for the sector through consolidation, they warn the merger premium is getting played out.
May 21, 2014, 7:55 AM
- Hormel (HRL) drove sales higher in FQ2 off of price increases as total volume ended up down 1% from last year.
- The integration of Skippy peanut butter helped to boost results in the U.S. and globally.
- Segment sales growth: Grocery Products -0.4% to $392M; Refrigerated Foods +9.9% to $1.11B; Jennie-O Turkey Store -1.1% to $380M; Specialty Foods -11.6% to $217M; International & Other +22.7% to $143M.
- The company's gross margin rate improved 50 bps to 16.9%.
- HRL -1.4% premarket
May 21, 2014, 6:33 AM
- Hormel Foods (HRL): FQ2 EPS of $0.52 misses by $0.04.
- Revenue of $2.24B (+4.2% Y/Y) in-line.
May 20, 2014, 5:30 PM
Apr. 28, 2014, 9:19 AM
- Shares of Tyson Foods (TSN) are higher in premarket despite despite fresh headlines on a pig virus that has devastated some hog farms.
- Analysts note the virus has been on the radar of the industry (HRL, HSH) for over 6 months and that some major producers have planned around it. Heavier hogs will offset some of the loss of headcount, according to insiders. Hedging strategies have also been utilized.
- TSN +0.5% premarket
Mar. 26, 2014, 10:45 AM
- The European Commission intends to propose new rules to regulate the production and selling of organic food.
- The changes could make it harder for companies to use the familiar organic food label on products in Europe.
- There's plenty of similar talk across the pond in the U.S. on the use of the words "organic" and "natural" on labels.
- Related stocks: SENEA, SENEB, THS, NCRA, CPB, DOLE, MDLZ, GIS, NSRGY, KRFT, TSN, FLO, CAG, DF, PPC, HRL, SJM, TSN, DF, ANFI, JJSF, PPC, WWAV, UL, DANOY, PLATF, POST, K, PEP, DMND, PF, HAIN, BNNY.
Mar. 23, 2014, 2:47 AM
- Unilever's (UL) Ragu brand is attracting interest from Hormel Foods (HRL) and J.M. Smucker (SJM), Bloomberg reports, with Pinnacle Foods (PF), Hillshire Brands (HSH), Post Holdings (POST) and Japanese grocery supplier Mizkan also eying the pasta sauce.
- First round bids for Ragu, which could bring in up to $2B, are due in at the end of this week.
- The auction adds to Unilever's sale of other famous food brands such as Skippy peanut butter last year. Ragu makes up 40% of the company's pasta-sauce sales of $1.2B and is the U.S. market leader, but revenue has fallen 18% since 2009.
Mar. 13, 2014, 1:20 PM
- Fresh food purchases at grocery stores continue to show higher growth rates than canned, packaged, and frozen food sales, and now account for 30% of all supermarket revenue..
- Organic sellers like Whole Foods Market (WFM -2.8%) account for some of the extra sales, but retail giants such as Wal-Mart (WMT -0.6%), Kroger (KR -0.7%), and Target (TGT -1.6%) are also broadening out their fresh food sections.
- Food companies on watch: SENEA, SENEB, THS, NCRA, CPB, DOLE, MDLZ, GIS, NSRGY, KRFT, TSN, FLO, CAG, DF, PPC, HRL, SJM.
Feb. 20, 2014, 6:32 AM
- Hormel Foods Corporation (HRL): FQ1 EPS of $0.57 misses by $0.01.
- Revenue of $2.24B (+6.7% Y/Y) misses by $10M.
Feb. 20, 2014, 12:05 AM
Feb. 19, 2014, 5:30 PM| Feb. 19, 2014, 5:30 PM | 3 Comments
Feb. 6, 2014, 9:33 AM| Feb. 6, 2014, 9:33 AM | 1 Comment
Jan. 12, 2014, 7:10 AM
- The U.S. pork industry is attempting to cope with a virus that has killed thousands of piglets since first appearing in April and has boosted prices in the $9B hog-futures market.
- Porcine epidemic diarrhea (PED) virus is only fatal to young pigs and is not harmful to humans, but it could cause the loss of 2-3M head, or as much as 3% of the industry's total.
- Hormel Foods (HRL) has already warned that FY 2014 earnings could suffer the effects of "potentially volatile hog costs" because of the virus. Tyson Foods (TSN) is also a pork producer.
- Still, the USDA has predicted that pork output will increase 2% this year to 23.6B pounds, due to heavier hog weights.
- ETFs: UBC, LSTK, COW
Jan. 7, 2014, 6:38 AM
- Despite lagging the S&P 500, food stocks had a strong year in 2013. We believe investors should remain selective in their allocation of capital by placing a greater emphasis on stock picking.
- Overall, in terms of themes for our packaged food/beverage coverage universe in 2014, we expect sluggish but gradually improving food volume trends, increased promotional intensity (funded by easing commodity costs and retailers fighting for traffic share) and a relatively active M&A environment.
- Accordingly, we prefer companies with solid organic growth prospects [Green Mountain Coffee Roasters (GMCR); Amira Nature Foods (ANFI); J & J Snack Foods Corp. (JJSF)], exposure to declining commodity costs [GMCR; Hormel Foods (HRL); The J.M. Smucker Company (SJM); Flowers Foods, Inc. (FLO)], exposure to company specific margin enhancing opportunities [FLO; GMCR, ConAgra Foods (CAG)] and ability to benefit from accretive M&A (SJM, JJSF and CAG).
- On the non-branded part of our coverage universe, Ingredion (INGR) is our top pick followed by Tyson Foods (TSN) and Dean Foods (DF).
Dec. 19, 2013, 8:29 AM
- Consumer Reports reports that close to 50% of all the raw chicken breasts it sampled in the U.S. during a study tested positive for "superbug" bacteria.
- The publication suggests a new law should be implemented to restrict antibiotic use with livestock in order to reduce the occurrence of the dangerous bacteria in food.
- Chicken sellers face a risk of higher costs if regulations tighten.
- Related stocks: TSN, SAFM, YUM, BWLD, PPC, HRL.
Nov. 26, 2013, 10:43 AM| Nov. 26, 2013, 10:43 AM | 1 Comment
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