Reported a winning quarter today. Organic net sales jumped, operating profit up 85%, and announced a 6% dividend boost. They re-shuffled their portfolio to emphasize high-end pet food (up 22%) and food service (25%). Shares jumped 6% to a new high today, but would've gone higher if not for market negativity.
Up 29% this year. They report Tuesday. They've gotten away with global price increases, because they have the best brands, including pet food. Even reporting a great number, he doesn't know how much more it can rally. But the market is getting oversold, so GIS can still work.
Their outlook is dimming as the wider economy weakens, and they're shifting to more value-oriented products for pets. He thought pet food was a more reliable product category but now this is can be slippery.
They report Wednesday; can they turn things around after sales faltered last quarter? Their high-end pet food business has stalled and Zoetis revealed that pet spending is slowing.
It reports Wednesday. He suspects shares have been out of fears of the new weight-loss drugs eating into their snack-food sales. That said, every package food company that has reported has reported no slowdown, and those stocks rallied. GIS also had a good pet food business.
They report Wednesday. They just sold their North American yogurt business for $2.1 billion, while their snacks and pet food visions are strong. The stock is a bargain now.
Was upgraded today based on accelerating pet food sales. It reports Wednesday. He thinks that the incoming Health & Human Services Secretary, Robert Kennedy, will promote healthy eating, which clashes with GM's money-making sugary cereals.
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