Bad Day for Packaged Goods

General Mills (GIS) is getting clocked today thanks to a lousy earnings report. GIS is the worst performing stock today in the entire S&P 500.

The problem for us is that this is bringing down two of our stocks, Hormel Foods (HRL) and Smucker (SJM). Wall Street assumes that if one company in a sector is having problems, then they all must be. SJM is currently down 4.3% while HRL is off by 2.3%.

Both companies are still doing well. A few weeks ago, Hormel met earnings and raised both their guidance and their dividend. That was their 52nd annual dividend increase. Smucker beat earnings and raised guidance.

Posted by on March 21st, 2018 at 12:53 pm


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