Major U.S. indexes
Stocks in the second quarter of 2020 (Q2 2020) rebounded from the COVID-19 pandemic that previously led to a decline for the broader U.S. equity market, as the S&P, DJIA and NASDAQ closed up 20.0 percent, 17.8 percent and 30.6 percent, respectively, for the quarter. For the 12 months ending June 30, the S&P, DJIA and NASDAQ changed 5.4 percent, -3.0 percent and 25.6 percent, respectively.
As of June 30, 2020, two of the five food & beverage segments exhibited increases on a trailing twelve months basis. The other three segments experienced declines. As a whole, markets in Q2 2020 rebounded from the previous selloffs related to the rampant global spread of COVID-19. While the virus is still a present threat, consumer spending has started to recover.
The stocks in the natural / organic segment performed the best of the five food & beverage segments. This segment exhibited an annual increase of 52.6 percent. The segment’s strong growth was driven by The Hain Celestial Group’s (“Hain”) recent stock performance. Hain has benefited from an increasing level of at-home food consumption due to restraints caused by COVID-19. The Celestial Seasonings tea brand saw the biggest improvement. According to President and Chief Executive Officer, Mark Schiller, “Tea is often used when one is sick, for a relaxing moment on a hectic day or for winding down at night, so it's well-positioned for growth in these turbulent times. Right now, the category and brand continue to grow about 40% year-over-year every week.”