Background and Relevance of Grupo Nutrisa
Grupo Nutrisa, a Mexican canned food company and owner of popular brands like Nutrisa ice cream, Moyo, Cielito Querido Café, and Chilim Balam snacks, was spun off from its parent company, Grupo Herdez, on September 18th. The separation was executed through a stock dividend on the Bolsa Mexicana de Valores (BMV).
Stock Performance and Analyst Insights
Grupo Nutrisa’s stock performance has been disappointing since its debut on the BMV. Starting at 6.15 pesos per share, it has since fallen by 24.72% to 4.63 pesos per share.
Regina Carrillo Villasana, an analyst at GBM Research, explained the initial drop as a result of technical pressure from the stock being distributed via a special dividend. This led to immediate sell-offs by investors uninterested in holding the new issuer’s stock.
Carrillo Villasana also noted that the market remains cautious due to Nutrisa’s lack of independent history and projected short-term losses, despite expectations of operating margins nearing 12% by 2025-2026.
Reduced Consumption and Market Perception
Analysts have pointed out that Grupo Nutrisa has faced reduced consumption of its products, including Nutrisa and Moyo ice creams, Cielito Querido Café, and Chilim Balam snacks. During tough economic times, consumers tend to prioritize essential goods over dining out or visiting establishments requiring higher spending.
Alik García, subdirector of Bursátil Analysis at Valmex Casa de Bolsa, highlighted that the stock price adjustment stems from the initial value appearing high compared to its earnings.
This implies that investors believed the initial price was excessive relative to similar companies.
García added that despite weaker figures in the first half of 2025, Nutrisa’s performance is expected to improve in the following year due to anticipated consumption recovery in Mexico and reduced volatility in international prices of certain raw materials.
Future Prospects and Expansion Plans
Regina Carrillo explained that Nutrisa’s improved stock performance will depend on the successful execution of its expansion plan and diversification into high-consumption categories.
As of June 30, 2025, Grupo Nutrisa operated 663 stores: 378 Nutrisa, 100 Chilim Balam, 93 Cielito Querido Café, and 92 Moyo. The company anticipates opening 12 new franchised units in 2025, according to a preliminary document.
Key Questions and Answers
- Q: Why has Grupo Nutrisa’s stock dropped since its BMV debut?
A: The initial drop was primarily due to technical pressure from the stock being distributed via a special dividend, leading to immediate sell-offs by investors uninterested in holding the new issuer’s stock.
- Q: What factors have contributed to reduced consumption of Grupo Nutrisa’s products?
A: During tough economic times, consumers prioritize essential goods over dining out or visiting establishments requiring higher spending, impacting Grupo Nutrisa’s ice creams, snacks, and café brands.
- Q: What are the future prospects for Grupo Nutrisa’s stock performance?
A: Improved stock performance is expected as consumption recovers in Mexico and raw material volatility decreases. Success in executing expansion plans and diversifying into high-consumption categories will also play a crucial role.
