CONSUMER FOODS / AGRIBUSINESS

This coverage involves the monitoring and analysis of the food supply chain from the field all the way to the consumer. We are experts within the agribusiness, ingredients, packaged foods and protein industries. We directly cover the farming and food production aspects of the US and global food/beverage supply chains, and supplement this with our knowledge of distributor, grocer and restaurant trends.

Brett Hundley – Ingredients & Packaged Foods

Heather Jones – Protein & Agribusiness

Protein coverage centers on the production of animal protein (beef, chicken, dairy, eggs pork and turkey). Agribusiness coverage centers on handling, storage, distribution and processing of grain and related commodities, to include ethanol/biodiesel. Ingredients coverage centers on production and sale of food and beverage ingredients (flavors, colors, enzymes, etc). Packaged Foods coverage centers on production of food and beverage products for sale in retail and food service outlets.

Keyword
Ticker Symbol
Title Date
Biofuel Market Update Aug 23, 2017
Chr. Hansen (CHR-CSE/Hold/521.50 kr): Lowering Estimates on Currency; Hold Aug 21, 2017
Protein & Dairy Roundup Aug 21, 2017
Sweeteners & Starch: Early Look at 2018 Contracting Dynamics in North America Aug 21, 2017
Monthly In-Store Channel Check Update – August 2017 Aug 21, 2017
Frutarom (FRUT-TAE/Buy/₪258.10): Solid Q2 Report; Reiterate Buy Rating Aug 18, 2017
Lancaster Colony (LANC-Buy-$115.11): Reports Q4 Miss; Plenty of Opportunity Ahead Aug 18, 2017
Sanderson Farms, Inc. (SAFM - Hold - $143.86): Raising Estimates, PT Aug 15, 2017
Hormel Foods, Inc. (HRL - Hold - $34.15): Reducing H2’17 Estimates; PT Unchanged Aug 15, 2017
Protein & Dairy Roundup Aug 14, 2017
Flowers Foods (FLO-Buy-$17.32): Reports Q2, Lowers Guidance Aug 10, 2017
Darling Ingredients Inc. (DAR - Buy - $16.43): Solid Q2; Increasingly Favorable Fundamental Outlook; Raising Est and Price Target Aug 10, 2017
Kerry Group (KRZ-DUB/Hold/€76.31): Reports H1, Updates Guidance; Hold Aug 10, 2017
Int’l Flavors & Fragrances (IFF-Hold-$136.71): Reports Q2; Reiterate Hold Rating Aug 09, 2017
Dean Foods (DF-Hold-$12.10): Downgrading to Hold & Lower Price Target Aug 08, 2017
Snyder’s-Lance (LNCE-Hold-$39.06): Solid Q2 Print; Company Offers 2020 Targets Aug 08, 2017
TSN: How Much is Growth Worth? Aug 07, 2017
Balchem (BCPC-Buy-$75.23): S-8 Filing Confuses Market; Strongly Reiterate Buy Rating Aug 07, 2017
Protein & Dairy Roundup Aug 07, 2017
Calavo Growers, Inc. (CVGW-Buy-$74.05): Near-Term Growing Pains; Lower 2017/Raise 2018 & Price Target Aug 04, 2017
TreeHouse Foods (THS-Hold-$74.16): Downgrading to Hold & Cut Ests/Price Target Aug 04, 2017
Post Holdings (POST-Hold-$85.97): Solid Earnings Report + Outlook Aug 04, 2017
The Andersons, Inc. (ANDE - Buy - $34.00): Did We Hear the Word ‘Normal’? Aug 04, 2017
Balchem (BCPC-Buy-$78.41): Reports Q2; Forward Opportunities Remain - Buy Aug 04, 2017
The Andersons, Inc. (ANDE - Buy - $34.00): Q2 Upside Despite Weak Fert Aug 04, 2017
Pilgrim’s Pride Corp. (PPC - Buy - $25.23): Strong Q2; Industry Fundamentals & PPC-Specific Factors Point to More of the Same Aug 03, 2017
Tyson Foods, Inc. (TSN - Buy - $63.63): Earnings Preview Aug 03, 2017
Bunge Ltd. (BG - Buy - $77.80): Lowering Estimates; PT Unchanged Aug 02, 2017
Archer-Daniels-Midland Co. (ADM - Hold - $43.30): Decent Q2; Raising Estimates Aug 02, 2017
Green Plains, Inc. (GPRE - Buy - $18.90): Q2 Shock; Revising Estimates, PT Unchanged Aug 02, 2017
Innophos (IPHS-Buy-$48.22): Announces First Deal Alongside Solid Q2 Report; Buy Aug 02, 2017
Ingredion (INGR-Hold-$121.97): Reports Q2; Points Towards Midpoint of Guidance Aug 01, 2017
Kerry Group (KRZ-DUB/Hold/€76.35): Currency Forces Ests & Target Lower; Hold Jul 31, 2017
Dean Foods (DF-Buy-$15.02): The Case for F’17 Guidance, Investment Jul 31, 2017
Tate & Lyle (TATE-LON/Hold/£6.80): Upping Numbers on Q1 Trading Report; Hold Jul 27, 2017
McCormick & Co. (MKC-Buy-$93.95): RB Foods Synergy Potential is Attractive Jul 25, 2017
Sweeteners & Starch: A Look Ahead at TATE and INGR Jul 25, 2017
Cal-Maine Foods, Inc. (CALM - Hold - $34.85): Disappointing Q4; Turn Coming, but Prolonged Process Jul 25, 2017
Protein & Dairy Roundup Jul 24, 2017
Sensient (SXT-Buy-$75.80): Disappointing Q2 Report; Reiterate Buy Rating & Lower Tgt Jul 21, 2017
Givaudan (GIVN-SWX/Hold/₣1,899.00): Estimates Come Down on H1 Report; Hold Jul 20, 2017
Bunge Ltd. (BG - Buy - $78.69): Game Theory, Estimates/Target Unchanged Jul 20, 2017
McCormick & Co. (MKC-Buy-$91.94): Company Still Attractive, Following RB Deal Jul 19, 2017
Monthly In-Store Channel Check Update – July 2017 Jul 19, 2017
Cal-Maine Foods, Inc. (CALM - Hold - $35.38): Egg Pricing and Feed Costs Jul 18, 2017
Frutarom (FRUT-TAE/Buy/₪250.20): Story Remains Attractive – Reiterate Buy Rating Jul 17, 2017
Protein & Dairy Roundup Jul 17, 2017
TreeHouse Foods (THS-Buy-$80.22): Lowering Estimates & PT; Retain Buy Rating Jul 13, 2017
Snyder’s-Lance (LNCE-Hold-$34.52): Lowering Estimates; Reiterate Hold Rating Jul 12, 2017
Lancaster Colony (LANC-Buy-$122.00): Lowering Ests & Target; Still Like Story - Buy Jul 12, 2017
Protein: Analysis of Impact From Rising Feed Costs Jul 12, 2017
Tyson Foods, Inc. (TSN - Buy - $58.58): Bold Doesn’t = Right Jul 12, 2017
Pilgrim’s Pride Corp. (PPC - Buy - $20.80): Revising Estimates & Price Target Jul 12, 2017
The Andersons, Inc. (ANDE - Buy - $34.05): Reducing Estimates & Price Target Jul 11, 2017
Archer-Daniels-Midland Co. (ADM - Hold - $40.81): Revising Estimates & Target Jul 11, 2017
Green Plains, Inc. (GPRE - Buy - $19.53): Revising Estimates & Price Target Jul 11, 2017
Darling Ingredients Inc. (DAR - Buy - $15.76): Earnings Preview Jul 11, 2017
Bunge Ltd. (BG - Buy - $76.47): Revising Estimates & Price Target Jul 11, 2017
Biofuel Market Update Jul 10, 2017
Flowers Foods (FLO-Buy-$17.31): Thoughts on Competitive Enviro, Wheat Market Jul 10, 2017
Post Holdings (POST-Hold-$77.39): Weetabix Closes Early, Wheat Moving Higher Jul 10, 2017
Kerry Group (KRZ-DUB/Hold/€75.26): Reducing Estimates; Reiterate Hold Rating Jul 06, 2017
Balchem (BCPC-Buy-$77.67): Update on Various Items; Reiterate Buy Rating Jul 06, 2017
Chr. Hansen (CHR-CSE/Hold/504.50 kr): Reports Q3 Upside, Special Dividend; Hold Jul 05, 2017
Cal-Maine Foods, Inc. (CALM - Hold - $37.50): Revising Estimates & Target; S/D Improving, but Slow Going Jul 05, 2017
Protein & Dairy Report Jul 03, 2017
McCormick & Co. (MKC-Buy-$96.93): Solid Q2; Outperformance Likely Ahead Jun 29, 2017
Developments Across the Protein Spectrum Jun 26, 2017
Protein & Dairy Roundup Jun 26, 2017
Food For Thought: Analyst Musings + This Week’s Wrap on News, Commentary Jun 23, 2017
Packaged Food: The New Price War; Good for Shoppers…Bad for Everyone Else? Jun 21, 2017
Protein & Dairy Roundup Jun 19, 2017
Monthly In-Store Channel Check Update – June 2017 – AMZN/WFM Deal Implications Jun 19, 2017
Calavo Growers, Inc. (CVGW-Buy-$70.25): Early Innings Jun 19, 2017
Bunge Ltd. (BG - Buy - $78.15): Reducing Estimates & Target on Continued Weakness in South America Jun 19, 2017
TreeHouse Foods (THS-Buy-$78.34): Company Announces President/COO Hire Jun 13, 2017
Tyson Foods, Inc. (TSN - Buy - $61.37): Upgrading to Buy Jun 13, 2017
Frutarom (FRUT-TAE/Buy/₪230.20): Growth Story…Remember Those? Initiate at Buy Jun 12, 2017
Chr. Hansen (CHR-CSE/Hold/470.80 kr): Ferrari Gets a Ferrari Price; Initiate at Hold Jun 12, 2017
Protein & Dairy Roundup Jun 12, 2017
Tate & Lyle (TATE-LON/Hold/£7.36): Growth Ahead, But How Much? Initiate at Hold Jun 12, 2017
Kerry Group (KRZ-DUB/Hold/€77.93): Big…and Likely to Get Bigger; Initiate at Hold Jun 12, 2017
Givaudan (GIVN-SWX/Hold/₣1,954.00): Choppy Seas Ahead? Initiate at Hold Jun 12, 2017
Calavo Growers, Inc. (CVGW-Buy-$75.05): Robust Q2; Raising Estimates Jun 08, 2017
Ingredion (INGR-Hold-$115.73): US & MX Announce Sugar Deal; Retain Hold Jun 06, 2017
Calavo Growers, Inc. (CVGW-Buy-$70.30): Unpacking the Bull Thesis Jun 05, 2017
Balchem (BCPC-Buy-$82.88): Details on Innovative Food Processors Deal Jun 05, 2017
Darling Ingredients Inc. (DAR - Buy - $15.95): Investor Meeting Takeaways Jun 05, 2017
Bunge Ltd. (BG - Buy - $80.10): What Are Its Options? Jun 05, 2017
Protein & Dairy Roundup Jun 05, 2017
Flowers Foods (FLO-Buy-$18.53): Wheat Market Update May 31, 2017
Sanderson Farms, Inc. (SAFM - Hold - $115.73): Visibility Good into Bullish Market Fundamentals May 26, 2017
Hormel Foods, Inc. (HRL - Hold - $33.13): Are 16% Meat Mgns Really Disappointing? May 26, 2017
Food For Thought: Analyst Musings + This Week’s Wrap on News, Commentary May 26, 2017
Lancaster Colony (LANC-Buy-$121.42): We’re Back on Board; Upgrade to Buy May 26, 2017
Post Holdings (POST-Hold-$81.56): Updating Model for Weetabix; Retain Hold May 26, 2017
Int’l Flavors & Fragrances (IFF-Hold-$137.90): Lowering Estimates; Reiterate Hold May 25, 2017
Chicken & Eggs Discussion – Incrementally Positive for Both Broiler and Egg Producers May 25, 2017
Pilgrim’s Pride Corp. (PPC - Buy - $23.27): Implications of JBS Debacle May 23, 2017
Protein & Dairy Roundup May 22, 2017
Monthly In-Store Channel Check Update – May 2017 May 22, 2017
Ingredients Conference Takeaways May 22, 2017
Ingredion (INGR-Hold-$115.56): Lowering Estimates on South America; Hold May 22, 2017
Brazilian Crisis - Implications May 18, 2017
Flowers Foods (FLO-Buy-$18.49): Watching the Paint Dry; Take Advantage and Buy May 18, 2017
Protein & Dairy Roundup May 15, 2017
Darling Ingredients Inc. (DAR - Buy - $15.03): NT Outlook Somewhat Softer, but LT Thesis Intact May 15, 2017
Food For Thought: Analyst Musings + This Week’s Wrap on News, Commentary May 12, 2017
Darling Ingredients Inc. (DAR - Buy - $15.45): Adjusted Q1 EBITDA Modest Miss May 12, 2017
Dean Foods (DF-Buy-$19.56): Noisy Q1 Offers Much for Further Inspection; Buy May 10, 2017
Post Holdings (POST-Hold-$82.64): Announces Full Q2 Results, Note Tender Offer May 09, 2017
Balchem (BCPC-Buy-$82.37): Remains a Good Place to Be Invested; Reiterate Buy May 09, 2017
Int’l Flavors & Fragrances (IFF-Hold-$137.38): Good Run; Lowering to Hold May 09, 2017
Tyson Foods, Inc. (TSN - Hold - $59.48): Beef/Pork Carry the Day; What Now? May 08, 2017
Snyder’s-Lance (LNCE-Hold-$35.17): Reports Full Q1; Busy Times in Charlotte May 08, 2017
Protein & Dairy Roundup May 08, 2017
The Andersons, Inc. (ANDE - Buy - $33.40): Fundamentals Turning; Retain Buy May 05, 2017
Bunge Ltd. (BG - Buy - $67.20): Challenging Outlook, But Retain Buy Rating May 04, 2017
TreeHouse Foods (THS-Buy-$76.34): Back Down We Go; Time to Regain Edge May 04, 2017
Pilgrim’s Pride Corp. (PPC - Buy - $23.56): In-Line Q1; Further to Go May 04, 2017
Darling Ingredients Inc. (DAR - Buy - $14.86): Q1 Likely Solid; Attractive Outlook May 04, 2017
Ingredion (INGR-Hold-$122.12): Offense Wins Games…Defense Wins Championships May 03, 2017
Archer-Daniels-Midland Co. (ADM - Hold - $41.67): Reducing Estimates May 03, 2017
Green Plains, Inc. (GPRE - Buy - $25.35): Better-than-Expected Q1; Investors Embrace Non-Ethanol Potential May 03, 2017
Innophos (IPHS-Buy-$44.30): Don’t Get Blinded By Near-Term Impacts to P&L; Buy May 02, 2017
Protein & Dairy Roundup May 01, 2017
Food For Thought: Analyst Musings + This Week’s Wrap on News, Commentary Apr 28, 2017
Lancaster Colony (LANC-Hold-$123.00): Margins Derail Q3 Performance; Hold Apr 27, 2017
Sensient (SXT-Buy-$83.31): Solid Start to the Year; Retain Buy Rating Apr 26, 2017
Tyson Foods, Inc. (TSN - Hold - $65.47): APFH Acquisition Furthers Diversification & Vertical Integration Efforts, but Pricey Apr 25, 2017
Protein & Dairy Roundup Apr 24, 2017
Pilgrim’s Pride Corp. (PPC - Buy - $23.56): Upgrading to Buy on Better-Than-Expected 2017 Outlook Apr 21, 2017
Monthly In-Store Channel Check Update – April 2017 Apr 19, 2017
Post Holdings (POST-Hold-$86.50): Announces Weetabix Purchase; Lowering to Hold Apr 18, 2017
Snyder’s-Lance (LNCE-Hold-$32.83): Ugly Q1 Preannouncement; CEO Departure Apr 17, 2017
Protein & Dairy Roundup Apr 17, 2017
Protein & Dairy Roundup Apr 10, 2017
Innophos (IPHS-Buy-$45.38): Investor Day Post-Mortem; Great Opportunity to Buy Apr 10, 2017
McCormick & Co. (MKC-Buy-$99.59): Investor Day Reinforces Positive View; Buy Apr 10, 2017
Sanderson Farms, Inc. (SAFM - Hold - $104.95): Raising Estimates Again Apr 07, 2017
Green Plains, Inc. (GPRE - Buy - $23.85): Reducing Q1 Estimate on Weaker-Than-Expected Start to Year; Reiterate Buy Apr 07, 2017
The Andersons, Inc. (ANDE - Buy - $37.70): 2017 Outlook Intact; Reiterate Buy Apr 07, 2017
Biofuel Market Update Apr 07, 2017
Calavo Growers, Inc. (CVGW-Buy-$60.35): Unpacking the Bull Thesis Apr 04, 2017
Protein & Dairy Roundup Apr 03, 2017
Food For Thought: Analyst Musings + This Week’s Wrap on News, Commentary Mar 31, 2017
Dean Foods (DF-Buy-$19.18): Cheese Market Saturated; Class I Should Remain Subdued Mar 30, 2017
McCormick & Co. (MKC-Buy-$98.76): Earnings H2 Loaded – No Worries; Reiterate Buy Mar 28, 2017
Cal-Maine Foods, Inc. (CALM - Hold - $37.50): Q3 Miss; Shares Rally as Value Buyers Step In Mar 27, 2017
Sensient (SXT-Buy-$79.10): Updating Model; Attractive Story Continues to Play Out Mar 27, 2017
Protein & Dairy Roundup Mar 27, 2017
Ingredion (INGR-Hold-$120.66): Forward Street View Too Robust? Reiterate Hold Mar 24, 2017
Balchem (BCPC-Buy-$81.91): Lowering Estimates & Price Target; Retain Buy Mar 23, 2017
Sanderson Farms, Inc. (SAFM - Hold - $95.04): Raising Q2 Estimates Mar 22, 2017
Agribusiness Update; ADM/BG Estimate Revisions Mar 22, 2017
Monthly In-Store Channel Check Update – March 2017 Mar 22, 2017
Protein & Dairy Roundup Mar 20, 2017
Food For Thought: Analyst Musings + This Week’s Wrap on News, Commentary Commentary/News Mar 17, 2017
Cal-Maine Foods, Inc. (CALM - Hold - $38.88): Reducing Q3 Estimates; Outlook Still Uncertain, but Some Positive Developments Mar 16, 2017
Post Holdings (POST-Buy-$83.54): Update on Debt Refi, Weetabix Reports, & Bird Flu Mar 09, 2017
Calavo Growers, Inc. (CVGW-Buy-$56.75): In-line Q1; RFG Drives Improved Outlook Mar 07, 2017
HPAI Break in Tennessee - Implications Mar 06, 2017
Darling Ingredients Inc. (DAR - Buy - $14.65): Q4 Upside & Constructive Outlook; Reiterate Buy and Raise Target Mar 01, 2017
Calavo Growers, Inc. (CVGW-Buy-$56.40): Reducing Estimates Feb 28, 2017
Balchem (BCPC-Buy-$87.21): Forward Growth, Curemark Opportunity Still Intact; Buy Feb 28, 2017
Dean Foods (DF-Buy-$17.84): Increasing Forward Estimates & Upgrading to Buy Feb 28, 2017
Hormel Foods Corporation (HRL - Hold - $35.29): Challenged Outlook; Maintain Hold Feb 24, 2017
Sanderson Farms, Inc. (SAFM - Hold - $95.16): Feb 24, 2017
Monthly In-Store Channel Check Update – February 2017 Feb 24, 2017
Innophos (IPHS-Buy-$55.47): Cash is King; Upping PT and Reiterate Buy Rating Feb 22, 2017
Big, Clean, Beautiful Food Feb 21, 2017
Sanderson Farms, Inc. (SAFM - Hold - $95.03): Reducing Q1 on Disappointing Pricing; Better Start to Q2 Feb 21, 2017
Int’l Flavors & Fragrances (IFF-Buy-$124.03): Sky Not Falling After All; Reiterate Buy Feb 16, 2017
Dean Foods (DF-Hold-$18.90): Q4 Miss + Guide Down; Reiterate Hold on N-T Caution Feb 16, 2017
Calavo Growers, Inc. (CVGW - Buy - $57.10): Potential Challenges with MX Volumes Feb 16, 2017
The Andersons, Inc. (ANDE - Buy - $40.15): 2017 Outlook Intact; Reiterate Buy Feb 16, 2017
The Andersons, Inc. (ANDE - Buy - $38.55): Dig Deeper – Q4 Not Nearly as Bad as It Looks Feb 15, 2017
Bunge Ltd. (BG - Buy - $75.14): Solid Q4 and Outlook for Much Improved ’17 Intact; Reiterate Buy Feb 15, 2017
The Andersons, Inc. (ANDE - Buy - $37.55): Q4 Preview; Reducing 2017 Target/Estimate Feb 14, 2017
Flowers Foods (FLO-Buy-$19.01): Better Investment Story Now; Reiterate Buy Rating Feb 14, 2017
Snyder’s-Lance (LNCE-Hold-$37.91): Underlying Conditions Solid; Retain Hold Feb 13, 2017
Pilgrim’s Pride Corp. (PPC - Hold - $20.60): 2017 Outlook Better Than Expected Feb 10, 2017
Sensient (SXT-Buy-$77.00): Company Joining the Upper Echelon Ranks; Reiterate Buy Feb 10, 2017
Green Plains, Inc. (GPRE - Buy - $25.80): Strong Q4; Reiterate Buy Feb 10, 2017
TreeHouse Foods (THS-Buy-$84.97): Stock Rebounds on Improved Sales; More to Go Feb 09, 2017
Archer-Daniels-Midland Co. (ADM - Hold - $44.59): Better Than 2016, but How Much? Feb 08, 2017
Innophos (IPHS-Buy-$47.50): Upgrading to Buy; Vol/Pricing, Mexico Less of a Concern Feb 08, 2017
Pilgrim’s Pride Corp. (PPC - Hold - $18.64): Estimate Revision, Q4 Preview Feb 07, 2017
Tyson Foods, Inc. (TSN - Hold - $63.13): Muted Outlook, Legal Overshadow Robust Qtr Feb 06, 2017
Post Holdings (POST-Buy-$84.39): Beat & Raise; We Would Continue to Buy Here Feb 03, 2017
Archer-Daniels-Midland Co. (ADM - Hold - $43.99): Reducing Estimates Feb 03, 2017
Constructive Margin Outlook & Depressed Valuations Creates Compelling Opportunity Feb 02, 2017
Ingredion (INGR-Hold-$116.15): Reports Q4; Company Sees its Shadow? Retain Hold Feb 02, 2017
Lancaster Colony (LANC-Hold-$135.20): Solid Performance Yet Again; Reiterate Hold Jan 26, 2017
Hormel Foods Corporation (HRL - Hold - $36.54): Raising Q1 on Strong Fresh Pork Jan 25, 2017
McCormick & Co. (MKC-Buy-$95.67): Q4 Report – Continued Stability; Reiterate Buy Jan 25, 2017
Protein: Pork Market Update Jan 25, 2017
Tyson Foods, Inc. (TSN - Hold - $62.36): Downgrading to Hold on Valuation Jan 25, 2017
Protein Export Outlook – It’s Complicated Jan 24, 2017
Darling Ingredients Inc. (DAR - Buy - $12.33): Attractive Risk/Reward Jan 19, 2017
Monthly In-Store Channel Check Update – January 2017 Jan 19, 2017
Flowers Foods (FLO-Buy-$19.66): Year-End Thoughts, Hopes & Desires; Buy Jan 19, 2017
Ingredion (INGR-Hold-$125.09): Updating Model; Thoughts on Fundamentals/Cash Flow Jan 17, 2017
Sensient (SXT-Buy-$78.11): Lowering Estimates on Currency; Reiterate Buy Rating Jan 12, 2017
Dean Foods (DF-Hold-$20.55): Puts & Takes…Environment Steady; Remain at Hold Jan 11, 2017
Balchem (BCPC-Buy-$83.21): Fundamentals Working Together; Reiterate Buy Rating Jan 10, 2017
Int’l Flavors & Fragrances (IFF-Buy-$116.02): Market Offering Opportunity; Buy Jan 09, 2017
Cal-Maine Foods, Inc. (CALM - Hold - $42.00): Weak Q4, as Expected; Outlook Improved, but Much Uncertainty Dec 23, 2016
Ingredion (INGR - Hold - $125.43): Announces Deal for TIC Gums; Upping Estimates Dec 20, 2016
Calavo Growers, Inc. (CVGW - Buy - $64.90): Strong Q4; Bullish 2017 Outlook Dec 20, 2016
Sanderson Farms, Inc. (SAFM - Hold - $88.75): Strong Q4 Upside; Raising F’17 on More Bullish Q1 Assumptions Dec 15, 2016
Sanderson Farms, Inc. (SAFM - Hold - $89.30): Raising Q4 EPS Projection Dec 12, 2016
Flowers Foods (FLO - Buy - $19.17): Rehberg Case Settled; Focus Turns to Growth Dec 09, 2016
McCormick & Co. (MKC - Buy - $89.05): Buy Quality…Only Cry Once; Initiate at Buy Dec 05, 2016
Flowers Foods (FLO - Buy - $15.48): Backed into a Corner; Initiate at Buy Dec 05, 2016
Dean Foods (DF - Hold - $19.20): Early Signs of a Pivot? Time Will Tell; Initiate at Hold Dec 05, 2016
Snyder’s-Lance (LNCE - Hold - $36.22): Market Reflects Positive Story; Initiate at Hold Dec 05, 2016
Darling Ingredients Inc. (DAR - Buy - $13.22): Like the Risk/Reward; Initiate at Buy Dec 05, 2016
Lancaster Colony (LANC - Hold - $133.64): Looking for Value; Initiate at Hold Dec 05, 2016
Tyson Foods, Inc. (TSN - Buy - $57.05): Balance Sheet Optionality, Portfolio Upgrade Offset Softening Chicken Industry Fundamentals Dec 05, 2016
Calavo Growers, Inc. (CVGW - Buy - $53.85): Initiate at Buy Dec 05, 2016
Innophos Holdings (IPHS-Hold-$53.41): Hoping Patience Pays Off; Initiate at Hold Dec 05, 2016
TreeHouse Foods (THS - Buy - $67.15): Five Still Very Much Alive; Initiate at Buy Dec 05, 2016
Cal-Maine Foods, Inc. (CALM - Hold - $39.65): Cycle Bottoming, but Sharp Reversal Unlikely Dec 05, 2016
Ingredion (INGR - Hold - $118.56): Patience Required After Big Year; Initiate at Hold Dec 05, 2016
Sensient (SXT - Buy - $77.17): Internal & External Opportunity; Initiate at Buy Dec 05, 2016
Bunge Ltd. (BG - Buy - $69.12): Initiate with Buy; Improved Fundamental Outlook and Compelling Asset Value Dec 05, 2016
Sanderson Farms, Inc. (SAFM - Hold - $81.96): Stronger ’17 Volumes and Potential China Opening Bullish, but Softening Industry Fundamentals Keep Us on Sidelines Dec 05, 2016
Balchem (BCPC-Buy-$80.62): Certainly On the Radar Now; Initiate at Buy Dec 05, 2016
Int’l Flavors & Fragrances (IFF-Buy-$120.07): Tasty Treat After Selloff; Initiate at Buy Dec 05, 2016
Pilgrim’s Pride Co. (PPC - Hold - $17.69): Mix Shift Should Boost Margins, but Softening Industry Fundamentals Keep Us on Sidelines Dec 05, 2016
The Andersons, Inc. (ANDE - Buy - $39.25): Initiate with Buy on Turn in Fundamentals Dec 05, 2016
Hormel Foods Corporation (HRL - Hold - $33.81): Valuation Full; Initiate at Hold Dec 05, 2016
Post Holdings (POST - Buy - $75.63): Eggs & Interest Rates in Focus; Initiate at Buy Dec 05, 2016
Archer-Daniels-Midland Co. (ADM - Hold - $44.00): Initiate with Hold Dec 05, 2016
Green Plains, Inc. (GPRE - Buy - $27.35): Bullish Ethanol; Initiate at Buy Dec 05, 2016