Conagra is priced for permanent decline when the market is really pricing in fear, setting up a turnaround. Its brands, including Slim Jim, Duncan Hines and Birds Eye, sit in 90% of American pantries, yet the stock is down 45% from its highs. A director bought $358,500 of stock at the 52-week low, a new CEO arrives June 1 after an 11-year tenure, and a 9.8% dividend yield pays holders to wait. Morningstar puts fair value at $32 versus a $14 price. x.com 

McCormick's deal to roughly double its share count to buy Europe's slowest-growing food consumer packaged goods business looks like a poor move made after its compounder multiple had already disappeared. Volumes held up until 2022 before some mix of price elasticity and GLP-1 drugs hurt them, and management incentives tied to three-year cumulative net sales growth help explain chasing size. x.com  x.com  x.com 

Novo Nordisk is priced as if its story were permanently broken, and it is not. GLP-1 competition, pricing pressure and weaker guidance are fair concerns, but it remains one of the most important healthcare companies in the world, in one of the biggest markets on earth. Along with ServiceNow, it is one of the two names most liked at current levels, and its drawdown looks interesting. x.com 

PepsiCo is an easy buy for a long-term dividend portfolio because its diversified brands can adapt to shifting health trends. Gatorade, soda, snacks and energy drinks are categories people will never stop consuming, and the recent Poppi purchase shows that adaptability, making PepsiCo preferable even to McDonald's. @TheRonnieVShow notes the stock sits on a 17-year trendline that has held since 2009. x.com  x.com 

Coca-Cola looks like a great funding short, since nothing makes it immune to the risks that battered its staples peers. GLP-1 drugs, store brands, new entrants and supply-chain inflation should hit it too, and non-sugar drinks only slow the U.S. decline, though international has held up better. About 2% revenue growth is thin support for 25x earnings while peers sit at 2008 valuations; it could fall to 15x unless the other staples rebound dramatically. x.com  x.com  x.com  x.com  x.com  x.com  x.com  … Show more

General Mills will struggle to raise prices or grow as GLP-1 drugs and inflation push shoppers toward store brands and away from cereals. It has two years of negative EPS growth and estimates, and its operating cash flow and margins should suffer in that environment. The company does produce cash and is cheap, as @calvinfroedge notes with $2-3B of annual operating cash flow and a shareholder yield above 10%. x.com  x.com 

Novo Nordisk is an attractive name to own now, undervalued against Eli Lilly while the GLP-1 market grows. Its earnings were excellent yet the stock barely moved, and it announced a new partnership with Amazon. x.com 

Stevanato has more positive news behind it at $17 than it did at $27. Oral drugs are penciling out to about 30% of the GLP-1 market with less uncertainty than months ago, biologics are advancing through the pipeline and starting to show in results, and cartridges are moving to ready-to-use. Management says higher dosages don't necessarily cannibalize lower ones, and its last two investor conferences were probably its most bullish ever. x.com