Packaged food companies experienced a spike in demand when the pandemic triggered shelter-at-home orders earlier this year. With the gradual reopening of restaurants and fast-food chains, the growth rate for packaged food sales has moderated but the demand continues to be strong compared to pre-pandemic levels as many consumers are opting for home-cooked and packaged food due to COVID-19 fears.
With this in mind, we will place consumer staples companies Kraft Heinz and General Mills alongside each other and use the TipRanks Stock Comparison tool to assess which stock offers a more compelling investment opportunity.
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