Companies making packaged food were among the most notable U.S. stock underperformers of the year, and the causes were many. Next year might look better, if only by comparison.
In a year when the S&P 500 has gained 24% so far, Campbell Soup, J.M. Smucker and General Mills have all declined between 21% and 24%. The list goes on: Conagra Brands, maker of Hunt’s tomato products and Marie Callender’s frozen meals, is down 26%. Kraft Heinz is a relative outlier, having declined just 11%.
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