input costs affecting expense
“The increase in cost per pound sold was driven by increases in labor costs, both from higher national insurance costs and higher temporary labor, repairs and maintenance, and utilities costs.”
PPC 10-Q
Confirmed
Packaged Foods & Beverages
20 names are moving together; 60% are participating in the current session.
1 observed Confirmed episode
Co-movement
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Members
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| MDLZ | Mondelez International, Inc. | Consumer Defensive | -1.2% | 3/10 observed active sessions |
| TAP | Molson Coors Beverage Company | Consumer Defensive | -0.1% | 4/10 observed active sessions |
| PEP | Pepsico, Inc. | Consumer Defensive | -0.4% | 4/10 observed active sessions |
| KHC | The Kraft Heinz Company | Consumer Defensive | -2.0% | 5/10 observed active sessions |
| PPC | Pilgrim's Pride Corporation | Consumer Defensive | -6.7% | Most structurally connected |
| KO | Coca-Cola Company (The) | Consumer Defensive | -1.1% | 2/10 observed active sessions |
| CPB | The Campbell's Company | Consumer Defensive | -0.5% | 5/10 observed active sessions |
| SFD | Smithfield Foods, Inc. | Consumer Defensive | -2.1% | 2/10 observed active sessions |
| GIS | General Mills, Inc. | Consumer Defensive | -1.8% | 4/10 observed active sessions |
| POST | Post Holdings, Inc. | Consumer Defensive | -1.7% | Group member |
| SJM | The J.M. Smucker Company | Consumer Defensive | -2.4% | 3/10 observed active sessions |
| SAM | Boston Beer Company, Inc. (The) | Consumer Defensive | -1.3% | 2/10 observed active sessions |
| CAG | ConAgra Brands, Inc. | Consumer Defensive | -3.6% | 2/10 observed active sessions |
| CALM | Cal-Maine Foods, Inc. | Consumer Defensive | +0.8% | 2/10 observed active sessions |
| MKC | McCormick & Company, Incorporat | Consumer Defensive | -0.2% | 1/10 observed active sessions |
| HSY | The Hershey Company | Consumer Defensive | -1.3% | Group member |
| INGR | Ingredion Incorporated | Consumer Defensive | -1.0% | 3/10 observed active sessions |
| TR | Tootsie Roll Industries, Inc. | Consumer Defensive | -0.6% | Group member |
| ACI | Albertsons Companies, Inc. | Consumer Defensive | -0.2% | Group member |
| KDP | Keurig Dr Pepper Inc. | Consumer Defensive | -1.4% | 2/10 observed active sessions |
Why we believe this
Cohort
20 namesParticipation
60% this sessionObserved history
15 daily buildsFiling coverage
20/20 membersrestructuring
“Based on these assessments, the Company determined that it was not necessary to perform quantitative impairment tests related to the carrying amount of its intangible assets not subject to amortization at that date.”
PPC 10-K
restructuring affecting expense
“SG&A increased $40.8 million, or 59.3%, driven by an increase in legal settlement expense, legal defense costs, and marketing costs • Europe SG&A increased $2.2 million, or 4.4%, driven by the unfavorable impact foreign currency translation, partially offset by decreases in overall cost structure • Mexico SG&A increased $3.3 million, or 23.3%, driven by the unfavorable impact of foreign currency translation Sources of restructuring activities charges Three Months Ended March 29, 2026 Change from Three Months Ended March 30, 2025 Amount Percent (In thousands, except percent data) Europe $ 2,765 $ (13,847) (83.4) % Factors impacting restructuring activities charges are as follows: • Europe restructuring activities charges of $2.8 million for the three months ended March 29, 2026 were incurred primarily as a result of severance related to back office consolidation.”
PPC 10-Q
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Connected, outside the group
WMT
SJMcustomer · Moving with the group now · 115 min observed
Filing receipt · WMT / SJM
“3 Customers: Sales to Walmart Inc.”
SJM · customer
PKG
CAGsupplier · Not moving with the group now
Filing receipt · PKG / CAG
“Raw Materials and Packaging We use many different raw materials, most of which are commodities, to make and package our products.”
CAG · supplier
KR
POSTcustomer · Not moving with the group now
Filing receipt · KR / POST
“Additionally, the largest customers of our Refrigerated Retail segment, Walmart and Kroger, accounted for 34.9% of the segment’s net sales in fiscal 2025.”
POST · customer
BRBR
POSTsupplier · Not moving with the group now
Filing receipt · BRBR / POST
“In addition, our Foodservice segment has a facility that manufactures protein-based shakes as a third-party manufacturer for BellRing.”
POST · supplier
JJSF
KDPsupplier · Current intraday read unavailable
Filing receipt · JJSF / KDP
“Syrup for frozen beverages is purchased primarily from The Coca-Cola Company, Keurig Dr.”
KDP · supplier
History
2026-07-15 → 2026-07-3010 observed active sessions · 0% of active names held across the episode