I
tend to believe that Wall Street overvalues the supposed stability of
packaged/branded food and beverage companies, which is why investors
seldom have the chance to buy the stocks of Coca-Cola
(NYSE:KO),
PepsiCo
(NYSE:PEP)
or Kellogg
(NYSE:K)
at really compelling valuations. Within the broader group of
expensive food names, I can see an argument for owning Heinz
(NYSE:HNZ)
today. Not only is Heinz doing relatively well from an organic
growth standpoint, but the combination of strong brands in
developed markets and a very good presence in emerging markets is
compelling to me.
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