Record crops of grains and oilseeds in the U.S. are expected to provide a boost to packaged food makers. "We recommend that investors increase their exposure to U.S. food manufacturers on the thesis that agricultural deflation in 2014 will drive higher margins, volumes, and earnings per share, beginning in January 2014," said Citi Investment Research analyst David Driscoll wrote in a recent note to investors. Record crops could cause grain and oilseed prices to fall by as much as 20 percent in 2014.
Campbell Soup Company (NYSE: CPB) shares traded in the range of $40.51 to $41.00 Monday before settling to close at $40.71, a decrease of 0.61 percent. The stock appears to be facing some resistance at the $41.24 and $42.70 levels with some support at $39.57. Shares of Campbell Soup Company have gained approximately 16.0 percent in 2013.
More information on Campbell Soup Company and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CPB
General Mills, Inc. (NYSE: GIS) shares traded in the range of $47.50 to $47.93 Monday before settling to close at $47.92, a decrease of 0.33 percent. The stock appears to be facing some resistance at the $48.02 and $48.65 levels with some support at $47.49. Shares of General Mills have gained approximately 18.0 percent year-to-date.
More information on General Mills and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GIS
Kellogg Company (NYSE: K) shares traded in the range of $58.59 to $59.07 Monday before settling to close at $58.73, a decrease of 0.49 percent. The stock appears to be facing some resistance at the $59.44 and $59.95 levels with some support at $57.06. Shares of Kellogg have gained approximately 5.0 percent year-to-date.
More information on Kellogg and access to the free equity report can be found at:
www.WallStreetFundamentals.com/K
The J.M. Smucker Company (NYSE: SJM) shares traded in the range of $104.44 to $105.39 Monday before settling to close at $105.04, an increase of 0.24 percent. The stock appears to be facing some resistance at the $106.84 and $108.59 levels with some support at $105.00. Shares of J.M. Smucker have gained approximately 22.0 percent in 2013.
More information on J.M. Smucker and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SJM
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