Sign in

    Mitch Pinheiro

    Research Analyst at Sturdivant & Co.

    Mitchell B. Pinheiro, CFA, is Senior Vice President and Director of Fundamental Equity Research at Sturdivant & Co., specializing in in-depth analysis of the consumer goods sector and companies with a focus in the Mid-Atlantic region. He covers 27 stocks and has provided research on prominent firms such as Flowers Foods, where his timely investment notes have influenced investor perspectives, and he maintains a TipRanks analyst rating of 3.88-stars over his coverage universe. Pinheiro began his career at Janney Montgomery Scott in 1990, serving there until 2012, and later held key analyst roles at Imperial Capital and Wunderlich Securities before joining Sturdivant & Co.; he was inducted into The Wall Street Journal’s Analyst Hall of Fame in 2006 after twelve appearances on the 'Best on the Street' list. A CFA charterholder, Pinheiro also holds Series 7, 16, 24, 63, 86, and 87 securities licenses and is a member of the CFA Institute.

    Mitch Pinheiro's questions to CDXC leadership

    Mitch Pinheiro's questions to CDXC leadership • Q1 2024

    Question

    Inquired about the path to achieving the full-year revenue growth target, the strategy behind the new retail partnerships with Sprouts and Vitamin Shoppe, the expected pricing and margins in these new channels, and whether a recent supplement certification was a major R&D expense.

    Answer

    The company reiterated its full-year growth guidance, stating that revenue will ramp in the second half driven by new products and partnerships. The new retail partners are a better fit than Walmart as they are specialty retailers requiring less marketing support. Margins in retail will be lower than e-commerce, with comparable pricing. The certification cost was part of COGS, not R&D; the R&D increase was for new vertical and product development.

    Ask Fintool Equity Research AI

    Mitch Pinheiro's questions to CALAVO GROWERS (CVGW) leadership

    Mitch Pinheiro's questions to CALAVO GROWERS (CVGW) leadership • Q3 2022

    Question

    Mitch Pinheiro questioned the reasoning for near-term avocado volume challenges despite strong Mexican imports. He also asked for the retail versus foodservice mix in the Grown segment, demand differences in those channels, the drivers of RFG sales growth, and the path to achieving double-digit gross margins in that business.

    Answer

    CFO Shawn Munsell and President and CEO Brian Kocher explained that near-term volume challenges relate to managing margins as prices stabilize and the need to ramp up retail promotions that were paused during peak pricing. Munsell stated the Grown segment is about 60% retail and 40% foodservice, with volume declines seen slightly more on the retail side. For the RFG business, they confirmed sales growth was mostly price-driven, and the path from 8% to 10-12% gross margin will come from continued P&L-wide operational improvements rather than just volume leverage.

    Ask Fintool Equity Research AI

    Mitch Pinheiro's questions to CALAVO GROWERS (CVGW) leadership • Q2 2022

    Question

    Mitch Pinheiro of Sturdivant and Company asked for a cost breakdown in the RFG segment, inquiring about the drivers for future volume growth, and the potential risk of consumer trade-downs due to inflation. He also questioned if there were notable differences in volume between retail and foodservice channels for the avocado business.

    Answer

    President and CEO Brian Kocher provided a qualitative cost update for RFG, highlighting a 9% sequential improvement in labor productivity and tempered material cost inflation due to sourcing and yield initiatives. He stated that future growth will be driven by winning customers on service, evidenced by a 99% fill rate, rather than by buying market share. Kocher believes the fresh-cut category remains strong despite inflation, supported by convenience and health trends. Regarding avocados, he noted that severe supply constraints made it difficult to compare channel performance, but emphasized that overall market share remained stable.

    Ask Fintool Equity Research AI