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Since President-elect Donald Trump announced Robert F. Kennedy Jr. as his Health and Human Services (HHS) secretary nominee, packaged food stocks have been in focus given Kennedy's views on processed foods. Mizuho's managing director and senior consumer equity research analyst, John Baumgartner, sits down with Market Domination hosts Julie Hyman and Josh Lipton to discuss how Kennedy could impact packaged food stocks. If confirmed by the Senate, Baumgartner highlights three changes that Kennedy could introduce that would affect the sector. "One in terms of what's most disruptive would be a tightening of EBT [Electronic Benefits Transfer] food stamp allocations." The analyst says that food stamp spending accounts for around 15% of all grocery spending, with some categories like soft drinks and frozen pizza seeing higher rates. "[The] second most impactful would be sugar (SB=F) taxes," Baumgartner says, explaining higher prices could reduce sales and encourage companies to reformulate their products. Finally, the third most disruptive change would be "outright bans on certain ingredients," such as artificial colors and flavors. For investors, Baumgartner finds the companies "most at risk would be US-centric companies that over-index to these categories," naming Hershey (HSY) and Mondelez (MDLZ). Watch the video above for more on the potential impacts of Kennedy as HHS secretary as it relates to food and weight-loss drugs. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan.