Shares of food and candy makers look too cheap to ignore, and there are plenty of reasons to buy the group now, Jacob Sonenshine writes in this week’s edition of Barron’s. Conagra Brands (CAG), WK Kellogg (KLG), General Mills (GIS), Campbell Soup (CPB), Kraft Heinz (KHC), Hershey (HSY), and Mondelez (MDLZ) trade at an average forward price/earnings multiple of 14.3 times. Compared with the S&P 500’s multiple of 20.6 times, that’s a 30% discount, which is near a 10-year high, according to Evercore analysts.
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