These top foodmakers will rebound

Article Excerpt

The shares of these leading foodmakers are all down in the past three months, mainly because investors fear that new weight-loss drugs like Ozempic, which cause people to eat less, will hurt their sales. However, the high cost of these drugs and their serious side effects will limit their use. We still like the outlook for these three picks, but not all are buys right now. MONDELEZ INTERNATIONAL INC. $71 is a buy. The company (Nasdaq symbol MDLZ; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.4 billion; Market cap: $99.4 billion; Price-to-sales ratio: 2.8; Dividend yield: 2.4%; TSINetwork Rating: Above Average; www.mondelezinternational.com) mainly makes snack foods such as cookies, chocolate bars and gum. Its brands include Chips Ahoy cookies, Ritz crackers, Halls cough drops, Philadelphia Cream Cheese, Tang instant beverages and Clorets gum. Mondelez is shifting its focus to its main chocolate, biscuit and baked snacks products. By 2030, the company expects to derive 90% of its revenue from these three categories, up from about…