Food stocks hit hard, Kellogg among stocks to buy now, Barron’s says

Food stocks are worth a nibble after their worst showing relative to the S&P 500 in more than 20 years, Andrew Bary writes in this week’s edition of Barron’s. Stocks like Kellogg (K), General Mills (GIS), Kraft Heinz (KHC), Conagra Brands (CAG), and Campbell Soup (CPB) are off 15% to 25% in 2023, and a few are back where they stood 10 years ago-or even lower. Investors should bother with the normally stodgy sector as valuations have come down and look reasonable, and dividends are ample and look well covered by earnings, the author says. The publication makes the case for Mondelez (MDLZ), Kraft Heinz, Kellogg, General Mills, Campbell Soup, and Conagra Brands.