This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Campbell Soup, based in Camden, New Jersey, manufactures and markets consumer food products. Campbell operates two segments: Snacks and Meals & Beverages. The company's brands include Pepperidge Farm, Snyder's, Prego, Swanson, V8, Kettle, Cape Cod, and Spaghettios. The company has approximately 14,500 employees. The shares are a component of the S&P 500.

Stocks were down for a second day on Tuesday morning. The Bureau of Labor Statistics showed that job openings were nearly flat in February, at 8.76 million. Health insurance stocks fell after the federal government announced there will be no increase to Medicare Advantage rates for 2025. The Commerce Department's Census Bureau said that factory orders increased 1.4%, after dropping 3.8% in January. Treasury yields are rising. The S&P 500 fell 0.9%, the Dow dropped 1.1% and the Nasdaq lost 1.2%. Crude oil traded above $85 per barrel and gold was up $18 to $2275 per ounce.

Over the past 150-plus years, Campbell Soup has evolved into a leading packaged food manufacturer in North America, with a portfolio that extends beyond its iconic red-and-white labeled canned soup. In fiscal 2023, snacks accounted for half of its revenue (50%), followed by soup (29%), other simple meals (13%), and beverages (8%). Outside its namesake, its brands include Pepperidge Farm, Goldfish, Snyder’s of Hanover, Swanson, Pacific Foods, Prego, Pace, V8, and recently acquired Rao’s (closed in March 2024). Nearly 90% of its revenue results from the US and the remainder from Canada and Latin America.