I've noticed that the stocks of Food and Beverage companies are getting crushed over the last 3+ years. Many are down to the lowest prices in 20+ years.
Thoughts on whether this is simply a market rotation chasing tech vs a genuine collapse of CPG companies? Earnings are definitely down, but that too may be cyclical.
Examples:
\\-Conagra
\\-Diageo
\\-Hain Celestial
\\-B&G Foods
\\-General Mills
\\-Campbell's
\\-Kraft Heinz
The only company I see at all time high is Coca Cola.