Packaged Food Stocks: Year in Review
Leading the way with 80% year-to-date gains is Green Mountain Coffee Roasters
Green Mountain's business practices (specifically its accounting, which has faced SEC scrutiny) have always kept me at bay. Not to mention, hedge-fund manager David Einhorn has a sizable short position on the company. Einhorn is not known to be wrong very often.
[Read: Greenberg: And the Worst CEO of 2013 Is...?]
Nevertheless, those who placed their bets on this company are sitting pretty, if a little jittery. Because I couldn't rest easy heading into 2014 with 80% gains on the table and believing that things can get better. The odds are that they won't. For now, Green Mountain's much maligned management deserves plenty of credit for having regained the Street's trust.
Along those lines, I would worry about Diamond Foods
ConAgra is interesting for a multitude of reasons. Now, I've heard disappointment about the company's 11% gains. But we have to keep this performance in the context of where this company has been. ConAgra has never really been a consistent outperformer. And this year was no different. Management is still working to synergize the value they envisioned from the Ralcorp acquisition.