date:May 03, 2013
Kellogg, which makes Keebler cookies, posted a quarterly profit in line with estimates and stood by its full-year outlook. Hillshire, which owns Sara Lee frozen cakes, reported a better-than-expected profit and said 2013 earnings would be at the high end of its forecast.
Still, a 21 percent gain in food sector stocks this year has given food makers very high multiples, which demands better performance. Investors have been enticed by the promise of high-yield investments and hope for more deal-m