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The Kraft Heinz Company KHC successfully implemented pricing strategies that have strengthened its performance and helped maintain robust profit margins despite ongoing inflationary pressures. The company continues to excel in its three key segments — Foodservice, Emerging Markets and U.S. Retail Grow platforms — despite challenges in the consumer environment. KHC is actively working on transforming its business to unlock its full potential and boost shareholder value.
Let’s delve deeper.
Positive Performance Boosts Kraft Heinz’s Margins
One of the key reasons for Kraft Heinz's resilience is its focus on effective pricing strategies. The company successfully managed to keep its second-quarter 2024 adjusted gross profit at $2,296 million, up from $2,239 million in the same quarter last year. It improved its quarterly adjusted gross margin by 210 basis points (bps) to 35.5%. This impressive performance reflects the success of pricing adjustments aimed at offsetting rising input costs. KHC’s adjusted operating income moved up 2% to $1,380 million in the second quarter, highlighting the benefits of reduced commodity and logistics expenses.
Transformation Drives KHC’s Future Growth
Kraft Heinz's three key segments also remain strong. The ACCELERATE platforms in North America, for example, are expected to register a robust annual growth rate of 4% over the next decade. Brands like Heinz and Ore-Ida are experiencing positive momentum, thanks to strategic investments and innovation. In Emerging Markets, while there were setbacks in countries like China and Brazil, the company still reported high single-digit growth in the second quarter.
The company is actively pursuing a transformation strategy aimed at unlocking its full potential. Since launching Agile@Scale in February 2022, it concentrated on enhancing its agility through partnerships with technology firms and innovative solutions. This approach resulted in a 190-bps increase in adjusted gross profit margin in the first half of 2024.
The AGILE@SCALE initiative is being expanded globally, introducing North American solutions to international markets. KHC is also ramping up its innovation efforts, significantly increasing its research and development investments. This commitment is evident in its innovation pipeline, which contributed 2.4% to organic net sales year to date. As consumer preferences shift toward wellness and plant-based products, the company is well-positioned to leverage its strong brand portfolio to meet these demands.
Kraft Heinz Facing Consumer Challenges
Despite these positive developments, Kraft Heinz is not without its challenges. The current consumer environment is marked by slower income growth and persistent inflation, which have dampened consumer sentiment. This has led to a decline in second-quarter organic net sales by 2.4% year over year, largely due to lower demand and disappointing sales for products like Lunchables.
In North America, the company saw a 2.9% decline in organic net sales, influenced by increased value-seeking behavior among consumers. Internationally, developed markets experienced a 3.9% drop in sales, exacerbated by lower prices in the U.K. and challenges in customer negotiations. Considering these factors, Kraft Heinz revised its expectations for organic net sales in 2024, suggesting a decline of 2% to flat growth. This marks a shift from earlier forecasts of growth.
Volume Declines and Currency Fluctuations Hurt KHC
Kraft Heinz has also been struggling with weak volume performance over recent quarters. The company reported a 3.4 percentage point decline in volume/mix in the second quarter, particularly in North America and developed markets. This downward trend raises concerns about the company’s ability to sustain overall profitability moving forward.
Its extensive international operations expose it to risks from adverse currency fluctuations. In the second quarter, unfavorable exchange rates negatively impacted net sales by 1 percentage point. Such volatility continues to be a significant concern, potentially affecting Kraft Heinz’s revenues and overall financial health.
Final Thoughts on Kraft Heinz
In conclusion, Kraft Heinz is at a crossroads. On one hand, it demonstrates solid pricing strategies and robust brand performance, which are vital for maintaining margins. It faces significant challenges, including declining consumer demand and operational difficulties. Given the mixed signals from both positive performance indicators and ongoing struggles, investors should monitor how Kraft Heinz navigates its challenges and capitalizes on growth opportunities in the coming quarters. The company currently carries a Zacks Rank #3 (Hold).
KHC’s stock has increased 7.2% in the past three months compared with the industry’s 8.7% growth.
Better-Ranked Staple Stocks
Here, we have highlighted three better-ranked food stocks, namely, The Chef's Warehouse CHEF, Flowers Foods FLO and McCormick & Company, Inc. MKC.
The Chef’s Warehouse, which engages in the distribution of specialty food products, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef’s Warehouse’s current fiscal year sales and earnings each indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
Flowers Foods, one of the largest producers of packaged bakery foods in the United States, currently carries a Zacks Rank #2 (Buy). FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods’ current financial-year sales and earnings each implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
McCormick is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for McCormick & Company’s current fiscal-year sales and earnings indicates advancements of 0.1% and 5.6%, respectively, from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 8.3%, on average.
Zacks Investment Research
In a major move, Vectura Fertin Pharma, Inc., an affiliate of Philip Morris International Inc. PM, announced the sale of Vectura Group Ltd. to Molex Asia Holdings Ltd. This decision comes amid ongoing criticism of PM’s ownership of the asthma inhaler manufacturer as PM attempts to transition from tobacco to a broader healthcare and wellness group.
Philip Morris stated that this transaction allows Vectura to operate under Phillips Medisize, a Molex subsidiary, which is better positioned to advance its inhaled therapeutics pipeline without the constraints associated with PM’s ownership. This shift highlights the difficulties the company faced while trying to transform its business model in the face of negative perceptions.
Phillips Medisize, known for its expertise in drug delivery and medical devices, is expected to enhance its offerings by leveraging Vectura’s capabilities. This collaboration aims to introduce innovative solutions to the market, reinforcing a commitment to improving public health.
Challenges in Philip Morris’ Transformation
PM acquired Vectura in 2021 for £1.1 billion, aiming to diversify into the healthcare sector. However, the company has since taken a £516-billion impairment against the unit and revised its growth expectations. Critics have raised concerns about a tobacco company profiting from respiratory treatments, often linked to smoking-related health issues.
The backlash against PM's ownership was severe, resulting in boycotts and Vectura being excluded from key medical conferences. These challenges have hindered Vectura’s ability to engage effectively with the scientific community and establish crucial partnerships in contract development and manufacturing.
The Future of PM’s Vectura Fertin Pharma
Despite selling Vectura Group, PM's Vectura Fertin Pharma will continue as a separate entity. This division will focus on developing oral health products and inhaled prescription therapies, particularly in areas like pain management and cardiovascular emergencies. It plans to adopt a new corporate identity to signify its commitment to health and wellness.
In summary, the sale of Vectura Group marks a significant turning point for Philip Morris as it seeks to redefine its identity and focus on healthcare. Philip Morris’ strategic shift signals a promising investment opportunity, appealing to those interested in the evolving healthcare landscape. The company currently carries a Zacks Rank of #2 (Buy).
PM’s shares have gained 21.7% in the past three months compared with the industry’s growth of 22.7%.
Other Solid Staple Stocks
Here, we have highlighted three better-ranked food stocks, namely, The Chef's Warehouse CHEF, Flowers Foods FLO and McCormick & Company, Inc. MKC.
The Chef’s Warehouse, which engages in the distribution of specialty food products, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef’s Warehouse’s current fiscal year sales and earnings each indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
Flowers Foods, one of the largest producers of packaged bakery foods in the United States, currently carries a Zacks Rank #2. FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods’ current financial-year sales and earnings each implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
McCormick is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for McCormick & Company’s current fiscal-year sales and earnings indicates advancements of 0.1% and 5.6%, respectively, from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 8.3%, on average.
Zacks Investment Research
General Mills, Inc. GIS posted first-quarter fiscal 2025 results, wherein the top and bottom lines came ahead of the Zacks Consensus Estimate, while both metrics declined year over year. Results were hurt by the adverse net price realization and mix.
General Mills’ primary focus for fiscal 2025 is on fueling organic net sales growth, and the company progressed well toward that goal in the first quarter. GIS solidified its core by providing consumers with more exceptional experiences, resulting in improved volume, net sales and market share trends sequentially. The company also took a bold step in reshaping its portfolio with the proposed sale of its North American Yogurt business.
General Mills aims to enhance its competitiveness and regain leadership in category growth. The company plans to achieve this by delivering superior product innovation, backed by increased investments funded by strong savings from its Holistic Margin Management (“HMM”) efforts. Given these plans and the first-quarter performance, management reiterated its guidance for fiscal 2025.
The company remains committed to its Accelerate strategy, which is based on four pillars that include building brands, undertaking constant innovation, leveraging scale and standing for good. General Mills continues to focus on core markets, global platforms and local gem brands with growth prospects. It is also committed to reshaping its portfolio through prudent buyouts and divestitures.
General Mills, Inc. Price, Consensus and EPS Surprise
General Mills, Inc. price-consensus-eps-surprise-chart | General Mills, Inc. Quote
GIS’ Quarterly Performance: Key Metrics and Insights
General Mills posted adjusted earnings of $1.07 per share, which beat the Zacks Consensus Estimate of $1.05. However, the bottom line declined 2% year over year on a constant-currency (cc) basis. The downside can be attributed to the lower adjusted operating profit, elevated net interest expenses and an increased adjusted effective tax rate, partly made up by reduced shares outstanding.
GIS reported net sales of $4,848.1 million, which surpassed the Zacks Consensus Estimate of $4,780 million. The top line decreased 1% due to the adverse net price realization and mix. Organic sales also dipped 1% due to the same factors. We had expected organic sales to decline 2.3% in the first quarter.
The adjusted gross margin remained nearly flat year over year at 35.4% as gains from HMM cost savings were countered by input cost inflation and the adverse net price realization and mix. We had expected the adjusted gross margin to contract 10 bps in the quarter under review.
The adjusted operating profit came in at $865 million, down 4% at cc due to lower adjusted gross profit and increased adjusted SG&A costs. The adjusted operating profit margin contracted 50 bps to 17.8%. Our model suggested an adjusted operating margin contraction of 70 bps.
Decoding GIS’ Segmental Performance
Starting fiscal year 2025, General Mills has rebranded its previous Pet segment as North America Pet to emphasize that pet food sales outside of North America are now included in its International segment.
North America Retail: Revenues in the segment came in at $3,016.6 million, down 2% year over year due to reduced pound volume, partly made up by the positive net price realization and mix. Organic net sales also fell 2%. The segment’s operating profit declined by 7% to $746 million.
International: Revenues in the segment came in at $717 million, flat year over year, as increased pound volume (including impacts of Edgard & Cooper acquisition) was negated by the adverse net price realization and currency headwinds. Organic net sales fell 1% due to softness across China. The segment’s operating profit slumped from $50 million to $21 million.
North America Pet: Revenues came in at $576.1 million, down 1% year over year. Revenues were hurt by unfavorable net price realization and mix, partly made up by increased pound volume. Segmental organic sales also declined 1%. The segment’s operating profit came in at $119 million, up 7% on a year-over-year basis.
North America Foodservice: Revenues came in at $536.2 million, flat year over year. Also, organic net sales were flat. Sales growth across breads, biscuits, snacks and baking mixes were offset by bakery flour and pizza crust declines. The segment’s operating profit grew 21% to $72 million.
GIS’ Financial Health Snapshot & Other Developments
General Mills ended the quarter with cash and cash equivalents of $468.1 million, long-term debt of $11,431.3 million and total stockholders’ equity (excluding noncontrolling interests) of $9,275.6 million.
GIS generated $624 million in cash from operating activities in the first quarter. Capital investments amounted to $140 million during the same period. The company paid out dividends worth $338 million and bought nearly 4.5 million shares for $300 million in the first quarter.
Constant-currency sales from the joint venture of Cereal Partners Worldwide increased 1% in the first quarter. For Haagen-Dazs Japan, sales were flat year over year at cc.
General Mills recently announced that it has reached definitive agreements to sell its North American Yogurt business to French dairy leaders Lactalis and Sodiaal in cash deals totaling $2.1 billion. These transactions are anticipated to close in 2025. The combined transactions are expected to reduce General Mills' adjusted diluted EPS by about 3% within the first 12 months post-closing.
What to Expect From GIS in Fiscal 2025?
Despite ongoing economic uncertainty affecting consumers in its main markets, General Mills anticipates improvement in volume trends for its categories in fiscal 2025. However, the overall category dollar growth for the year is likely to fall short of the company's long-term growth targets. To boost organic net sales, General Mills aims to create robust experiences with its top food brands, which should lead to better household penetration and increased market share compared to the previous year.
In fiscal 2025, General Mills plans to launch new products and innovations centered on taste, health, convenience and value. The company expects to achieve cost savings of around 4-5% of the cost of goods sold through HMM initiatives, which is likely to surpass its anticipated input cost inflation of 3-4%. GIS plans to reinvest any potential margin gains into the business, boosting its investment in brand-building efforts to enhance volume performance in fiscal 2025.
For fiscal 2025, organic net sales are anticipated to range between a flat and a 1% increase. The adjusted operating profit growth at cc is anticipated between a decline of 2% and flat. Management anticipates adjusted earnings per share (EPS) growth between down 1% and an increase of 1% at cc. The company envisions a free cash flow conversion of at least 95% of adjusted after-tax earnings.
This Zacks Rank #3 (Hold) company’s shares have risen 11.8% in the past three months compared with the industry’s growth of 8.6%.
Better-Ranked Staple Stocks
Here, we have highlighted three better-ranked food stocks — The Chef's Warehouse CHEF, Flowers Foods FLO and McCormick & Company, Inc. MKC.
The Chef’s Warehouse, which engages in the distribution of specialty food products, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef’s Warehouse’s current fiscal year sales and earnings indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
Flowers Foods, one of the largest producers of packaged bakery foods in the United States, currently carries a Zacks Rank #2 (Buy). FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods’ current financial-year sales and earnings implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
McCormick is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for McCormick & Company’s current fiscal-year sales and earnings indicates advancements of 0.1% and 5.6%, respectively, from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 8.3%, on average.
Zacks Investment Research
Flowers Foods, Inc. FLO is currently trading at an attractive valuation, considering its price-to-sales (P/S) multiple, which is significantly lower than both the Zacks Food – Miscellaneous industry and the broader Consumer Staples sector. FLO’s forward 12-month P/S ratio is 0.96, lower than the industry average of 1.48 and the sector average of 8.53.
This discrepancy in valuation suggests that the stock may be undervalued relative to its peers, presenting a compelling opportunity for investors seeking value in the consumer staples space. With a Value Score of B, Flowers Foods strengthens its investment appeal, reflecting a favorable risk-reward profile.
Technical indicators are supportive of Flowers Foods’ performance. The stock is trading above both its 50-day and 200-day moving averages, indicating robust upward momentum and price stability. This technical strength reflects positive market perception and confidence in the company’s financial health and prospects.
While its recent price performance slightly trails industry peers, FLO has managed to outperform the broader market, reflecting its steady performance amid macroeconomic uncertainty. Shares of FLO have risen 5.3% in the past three months compared with the industry’s 8.6% growth and the S&P 500’s gain of 2.4%. Investors may find this combination of value, technical strength and relative market outperformance a good reason to consider Flowers Foods as a long-term investment opportunity.
FLO on Track With Strategic Priorities
The company has been on track with its core priorities, which include developing its team, concentrating on brands, prioritizing margins and looking out for prudent mergers and acquisitions. To this end, management has been shifting its focus toward becoming a more brand-focused company. Flowers Foods expects its optimized portfolio to drive market share gains through innovation.
Flowers Foods has been benefiting from its portfolio strategy, aimed at transitioning a larger part of its sales to higher-margin branded retail products, alongside enhancing the profitability of the private label and away-from-home business. The company has been solidifying its brands via innovation and marketing investments. In the second quarter of 2024, branded retail increased 0.3% year over year and formed 64.4% of sales, driven by the favorable shift toward more premium-priced products. By emphasizing branded products with higher margins, FLO aims to drive top-line growth and expand gross margins, contributing to overall profitability.
Moving to margins, the company is undertaking pricing and saving measures and efforts to enhance business efficiency. Flowers Foods has been boosting its cost structure and increased its expected annual savings from $30-40 million to $40-50 million in the second-quarter 2024 earnings release. This was achieved through targeted initiatives, including workforce reductions, reduced third-party spending and optimization of the Direct-Store-Delivery network.
Innovation & Acquisitions Drive Flowers Foods’ Growth
Innovation remains at the core of Flowers Foods' strategy, with several new product launches contributing to growth. The introduction of DKB Amped-Up Protein Bars and the expansion of DKB Snack Bites highlight the company’s ability to extend its brand into adjacent categories like snacking, which offers substantial growth potential. By leveraging Dave’s Killer Bread’s brand equity, Flowers Foods is driving incremental revenues and diversifying its product portfolio, setting the stage for sustained growth in 2025 and beyond.
Acquisitions play a crucial role in Flowers Foods' growth strategy, allowing the company to expand its brand lineup, geographic coverage and product offerings. By seeking potential acquisitions and investments that align with its strategic priorities, Flowers Foods aims to strengthen its position in core categories and pursue opportunities in emerging markets. The company’s most recent acquisition of Papa Pita Bakery (concluded in February 2023) has been contributing to its results.
What to Expect From FLO in 2024?
For fiscal 2024, Flowers Foods expects sales in the range of $5.091-5.172 billion, suggesting flat to a 1.6% increase year over year. Adjusted EBITDA is likely to be in the range of $524-$553 million compared with $501.7 million recorded in fiscal 2023. For fiscal 2024, the adjusted EPS is envisioned in the range of $1.20-$1.30 compared with $1.20 delivered in fiscal 2023.
Reflecting the positive sentiment around Flowers Foods, the Zacks Consensus Estimate for earnings per share has seen upward revisions. Over the past 30 days, analysts have increased their estimates for the current and next fiscal year by 2 cents each to $1.26 and $1.33 per share, respectively. These estimates indicate expected year-over-year growth rates of 5% and 5.4%, respectively.
Investors’ Playbook for FLO Stock
Flowers Foods presents a compelling investment opportunity, driven by its attractive valuation, solid technical performance, and strategic focus on innovation and brand expansion. With sales and earnings forecasts indicating a steady improvement in fiscal 2024, coupled with upward revisions in earnings estimates, Flowers Foods is well-positioned for continued success. As the company continues to execute its strategic priorities, FLO remains an excellent choice for those looking to capitalize on growth within the food industry. The company currently carries a Zacks Rank #2 (Buy).
Other Solid Food Stocks
The Chef’s Warehouse CHEF, which engages in the distribution of specialty food products, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef’s Warehouse’s current fiscal year sales and earnings indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
McCormick MKC is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for McCormick & Company’s current fiscal-year sales and earnings indicates advancements of 0.1% and 5.6%, respectively, from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 8.3%, on average.
Ingredion Incorporated INGR, which manufactures and sells sweeteners, starches, nutrition ingredients and biomaterial solutions, currently carries a Zacks Rank #2. INGR has a trailing four-quarter earnings surprise of nearly 11%, on average.
The Zacks Consensus Estimate for Ingredion Incorporated’s current financial-year earnings implies growth of 5.6% from the year-ago reported numbers.
Zacks Investment Research
A smart beta exchange traded fund, the Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS) debuted on 11/01/2006, and offers broad exposure to the Consumer Staples ETFs category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is sponsored by Invesco. It has amassed assets over $374.67 million, making it one of the average sized ETFs in the Consumer Staples ETFs. RSPS seeks to match the performance of the S&P 500 EQL WEIGHT CONSUMER STAPLES INDX before fees and expenses.
The S&P 500 Equal Weight Consumer Staples Index equally weights stocks in the consumer staples sector of the S&P 500 Index.
Cost & Other Expenses
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.40%.
RSPS's 12-month trailing dividend yield is 2.12%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For RSPS, it has heaviest allocation in the Consumer Staples sector --about 100% of the portfolio.
Looking at individual holdings, Kellanova (K) accounts for about 3.30% of total assets, followed by Tyson Foods Inc (TSN) and Mccormick & Co Inc/md (MKC).
RSPS's top 10 holdings account for about 29.12% of its total assets under management.
Performance and Risk
The ETF has gained about 5.19% so far this year and it's up approximately 6.03% in the last one year (as of 09/18/2024). In the past 52-week period, it has traded between $28.40 and $32.93.
The fund has a beta of 0.58 and standard deviation of 13.56% for the trailing three-year period. With about 39 holdings, it has more concentrated exposure than peers.
Alternatives
Invesco S&P 500 Equal Weight Consumer Staples ETF is a reasonable option for investors seeking to outperform the Consumer Staples ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Consumer Staples ETF (VDC) tracks MSCI US Investable Market Consumer Staples 25/50 Index and the Consumer Staples Select Sector SPDR ETF (XLP) tracks Consumer Staples Select Sector Index. Vanguard Consumer Staples ETF has $7.32 billion in assets, Consumer Staples Select Sector SPDR ETF has $18.34 billion. VDC has an expense ratio of 0.10% and XLP charges 0.09%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Consumer Staples ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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