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2015 All-America Research Team: Food, No. 2: Kenneth Goldman

J.P. Morgan’s Kenneth Goldman manages to repeat his second-place showing on this lineup while also nabbing a debut appearance on the Retailing/Food & Drug Chains.

Kenneth Goldman
J.P. Morgan
First-place appearances: 0

Total appearances: 4

Analyst debut: 2012

J.P. Morgan’s Kenneth Goldman manages to repeat his second-place showing on this lineup while also nabbing a debut appearance on the Retailing/Food & Drug Chains roster, as a runner-up. Consumer trends toward fresh and organic foods are shifting share away from traditional categories like soup and cereal, says Goldman, 45. “Consumers are better educated than ever about health and wellness, and they are no longer dieting as often,” he explains. “Instead, they are eating better all the time.” Believing that this change is no fad, he prefers names that will benefit from the new food attitudes over the long term. Examples of perennial favorites include Hain Celestial Group of Lake Success, New York, and Denver’s WhiteWave Foods Co. Hain Celestial manufactures and distributes natural products sold under such labels as Almond Dream, Celestial Seasonings and Earth’s Best. Its stock climbed 12 percent during the 12 months through mid-September, to $58.04, against U.S. food producers’ gain of 8.4 percent. Shares of WhiteWave — which produces brands like Silk, Horizon Organic dairy products, and Earthbound Farm organic salads, fruits and vegetables — leaped 24 percent during the same period, to $46.51. Clients appreciate Goldman’s healthy prescience. “Ken and his team have a clear big-picture view of the industries they cover and a deep understanding of individual companies,” lauds one portfolio manager. “For instance, his research on WhiteWave as well as natural-organic, more generally, has been thoughtful, data-driven and correct.”


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