Food stocks are called appetizing by Mizuho amid banking sector meltdown
SDI Productions

Mizuho walked away from the Silicon Valley Bank meltdown and resulting pressure in the financials sector even more convinced that consumer staples is a strong defensive play.
Analyst John Baumgartner and team reiterated the thesis that investors should consider a long Staples (NYSEARCA:XLP) trade through at least the first half of 2023.
Of note, public food stocks do not feature exposure to troubled banks and no material impacts are seen for the industry structure in terms of liquidity challenges or catalysts for M&A. Mizuho does think a fair number of industry start-ups did have exposure to SVB and could face tighter subsequent lending standards and a stronger emphasis on free cash/profitability. That could mean less competitive pressure for the big established players. 
Mizuho's top food sector picks Kraft Heinz (KHC), BellRing Brands (BRBR), Mondelez International (MDLZ), and Simply Good Foods (SMPL). A catch-all ETF for the food sector is the Invesco Dynamic Food & Beverage ETF (PBJ).