Shares of packaged food stocks are trading lower. The food at home index prices rose 2.4% year over year in September and 0.1% month over month, down from 0.2% in the previous two months.
Portfolio Pulse from Benzinga Newsdesk
Packaged food stocks are trading lower as the food at home index prices rose 2.4% year over year in September and 0.1% month over month, down from 0.2% in the previous two months.
October 12, 2023 | 4:23 pm
News sentiment analysis
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NEGATIVE IMPACT
Hormel Foods Corporation (HRL) stock is trading lower due to rising food at home index prices.
Rising food at home index prices can negatively impact the profitability of packaged food companies like Hormel Foods, leading to a decrease in their stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Kraft Heinz Company (KHC) stock is trading lower due to rising food at home index prices.
Rising food at home index prices can negatively impact the profitability of packaged food companies like Kraft Heinz, leading to a decrease in their stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Lamb Weston Holdings (LW) stock is trading lower due to rising food at home index prices.
Rising food at home index prices can negatively impact the profitability of packaged food companies like Lamb Weston, leading to a decrease in their stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
McCormick & Company (MKC) stock is trading lower due to rising food at home index prices.
Rising food at home index prices can negatively impact the profitability of packaged food companies like McCormick & Company, leading to a decrease in their stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Monster Beverage Corporation (MNST) stock is trading lower due to rising food at home index prices.
Rising food at home index prices can negatively impact the profitability of packaged food companies like Monster Beverage, leading to a decrease in their stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
TreeHouse Foods (THS) stock is trading lower due to rising food at home index prices.
Rising food at home index prices can negatively impact the profitability of packaged food companies like TreeHouse Foods, leading to a decrease in their stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100