Over the past year, Americans have witnessed their wallets becoming leaner due to rampant inflation. However, inflation has fallen significantly from last year’s peak and is expected to reach the Fed’s long-term target, thereby benefiting the food makers industry.
Moreover, the use of technology, changing consumer preferences, expansion into new territories, innovations and investments in R&D are expected to drive the industry’s growth. Therefore, it could be prudent to buy fundamentally strong food maker stocks: John B. Sanfilippo & Son, Inc. (JBSS), HF Foods Group Inc. (HFFG), and Ingredion Incorporated (INGR).
