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How are American food producers coping with soaring commodity prices?
Wachovia Securities analyst Jonathan Feeney says that's easy: They're passing along the prices to the consumer, and letting the consumer do the coping. That puts some major food producers and their stocks in a pretty good position.
Investor Takeaway |
"It's the consumer feeling it in prices right now," Feeney told CNBC.
"Retailers are healthy, and for the moment, these packaged-food manufacturers have done a great job passing these prices through and delivering earnings."
So who's doing the best job, and where should an investor put his "food money"?
"General Mills [GIS
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(%)
] is...my top pick of the U.S. big-caps right now," he said. "They have great innovation, great topline growth, and...pricing power."
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