CALL DETAILS:
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On Monday, December 5th, at 12:30 PM ET, we will host an Idea Hunt call for Restaurants and Consumer Staples. We are hunting for longs and shorts where our estimates differ materially from consensus expectations and where the multiple could be re-rated. We will present our analysis after a further round of vetting on a handful of companies. Our best ideas often are sourced from vetted Idea Hunt companies.
The topics we will cover include:
- How to be positioned in Restaurants and Consumer Staples in Quad 4.
- New idea generation heading into 2023.
- Hershey (HSY) is a best-in-class confection and snacking business with strong brands that enable pricing power. Is the margin recovery priced in? Does the valuation already reflect full margin recovery? Does it reflect margin reinvestment and mix headwinds?
- Kimberly-Clark (KMB) has implemented price increases to recapture margins negatively impacted by higher commodity costs. In Q4, consensus expects margins to expand for the first time since the anniversary of the pandemic. Will commodity costs cooperate and pricing power hold up in 2023? How long will it take to return to 2019 margins, and what volumes will be needed?
- We are negative about the food service distribution space. Should SpartanNash (SPTN) be part of that short or the exception? How have the activists changed the company?
- CLICK HERE for access to our Food Service Distributor Black Book.
- Domino's (DPZ) is a Best Idea Long, but how is its biggest publically traded franchise group, Domino's Pizza Enterprises (DMP.AU), looking?
- CLICK HERE for access to our Best Idea Long Black Book on DPZ.
