As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the shelf-stable food industry, including J. M. Smucker (NYSE: SJM) and its peers.

As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.

The 16 shelf-stable food stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 0.7%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 15.2% since the latest earnings results.

J. M. Smucker (NYSE: SJM)

Best known for its fruit jams and spreads, J.M Smucker (NYSE: SJM) is a packaged foods company whose products span from peanut butter and coffee to pet food.

J. M. Smucker reported revenues of $2.34 billion, up 7% year on year. This print exceeded analysts’ expectations by 0.5%. Overall, it was a strong quarter for the company with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ gross margin estimates.

"Our business continues to deliver strong results in a dynamic external environment. In the third quarter, net sales and adjusted earnings per share exceeded our expectations, reflecting the strength of our portfolio of leading brands, along with our disciplined cost management," said Mark Smucker, Chief Executive Officer, President and Chair of the Board.

The stock is down 10.8% since reporting and currently trades at $95.08.

Is now the time to buy J. M. Smucker? Access our full analysis of the earnings results here, it’s free.

Best Q4: Hershey (NYSE: HSY)

Best known for its milk chocolate bar and Hershey's Kisses, Hershey (NYSE: HSY) is an iconic company known for its chocolate products.

Hershey reported revenues of $3.09 billion, up 7% year on year, outperforming analysts’ expectations by 3.8%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

The market seems content with the results as the stock is up 2.3% since reporting. It currently trades at $210.59.

Is now the time to buy Hershey? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Campbell's (NASDAQ: CPB)

With its iconic canned soup as its cornerstone product, Campbell's (NASDAQ: CPB) is a packaged food company with an illustrious portfolio of brands.

Campbell's reported revenues of $2.56 billion, down 4.5% year on year, falling short of analysts’ expectations by 1.6%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

As expected, the stock is down 14.9% since the results and currently trades at $21.01.

Read our full analysis of Campbell’s results here.

The Marzetti Company (NASDAQ: MZTI)

Known for its frozen garlic bread and Parkerhouse rolls, The Marzetti Company (NASDAQ: MZTI) sells bread, dressing, and dips to the retail and food service channels.

The Marzetti Company reported revenues of $509.8 million, flat year on year. This number lagged analysts' expectations by 1.9%. It was a slower quarter as it also produced a miss of analysts’ gross margin estimates and a miss of analysts’ revenue estimates.

The Marzetti Company had the weakest performance against analyst estimates among its peers. The stock is down 19.3% since reporting and currently trades at $140.38.

Read our full, actionable report on The Marzetti Company here, it’s free.

Mondelez (NASDAQ: MDLZ)

Founded as Nabisco in 1903, Mondelez (NASDAQ: MDLZ) is a packaged snacks powerhouse best known for its Oreo, Cadbury, Toblerone, Ritz, and Trident brands.

Mondelez reported revenues of $10.5 billion, up 9.3% year on year. This result topped analysts’ expectations by 1.8%. Taking a step back, it was a mixed quarter as it also recorded a decent beat of analysts’ revenue estimates but a significant miss of analysts’ gross margin estimates.

The stock is down 2.9% since reporting and currently trades at $57.72.

Read our full, actionable report on Mondelez here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.