[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio777f2812":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio777f2812","油价、减重药与政策“三重夹击”，美国休闲食品巨头遭投行看空","\u002Fdoc\u002Fdcio777f2812","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，受原油价格上涨、GLP-1减重药快速普及等多重不利因素叠加影响，伯恩斯坦分析师Alexia Howard对美国大型包装食品企业的立场明显转向悲观，将通用磨坊（GIS）、康尼格拉（CAG）、金宝汤（CPB）以及卡夫亨氏（KHC）的评级由“与大盘持平”大幅下调至“跑输大盘”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Alexia指出，油价上行正在推高运输、包装及农产品原料等多项成本，而联邦食品救济项目削减、减重药物GLP-1渗透率提升，以及特朗普政府“让美国重新健康（MAHA）”政策议程推进，均可能持续压制垃圾食品及含糖饮料的消费需求。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">疫情期间居家消费带来的红利已明显消退。当时封锁环境推动康尼格拉Slim Jim肉干、卡夫亨氏通心粉等零食产品需求激增，而企业则通过提价对冲原材料成本上涨，从而维持利润表现。如今，在持续高通胀与消费者信心处于阶段低位的背景下，行业再次面临利润端下行压力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Howard在最新研报中指出，新一轮输入型成本通胀正在逐步逼近，而以美国本土市场为主的食品企业，可能缺乏足够能力将成本压力顺利转嫁给下游零售商，尤其是在零售渠道不愿为增速落后于门店同店增长的品牌接受进一步涨价的情况下。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">华尔街整体对该板块态度偏空金宝汤目前无任何“买入”评级，而通用磨坊、康尼格拉及卡夫亨氏超过八成覆盖分析师给予“持有”或“卖出”评级。标普包装食品行业指数较2月高点已回撤15%，并于周四收于2020年3月以来最低水平。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Howard同时指出，该行业普遍具备较高股息率且估值处于周期低位，但若派息率持续上行，市场将开始担忧未来可能出现的股息削减风险。此外，联邦营养补助项目（SNAP）支出收缩，预计将对行业销量形成约1个百分点的额外拖累。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">她表示“单一因素本身并不会构成重大挑战，但在原本已经受到GLP-1渗透与MAHA政策持续压制的基础上，这些新增变量使得今年的经营环境进一步复杂化。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" target=\"_blank\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"edit":87,"editVideo":88,"courseContent":89,"more":90,"buyNow":91,"subscribeNow":92,"encoding":93,"paidContent":94},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]