High P/E but Cheap stocks in the Food Products sector

(if you read One Up on Wall Street, Peter Lynch talks about Cyclical stocks that are high in P/E but is actually at the bottom of the business cycle) here are some companies trading at the bottom or near bottom of the business cycle with high P/E: | Food Products | Industry | Current P/E | 5 Year Average | Dividend Yield | 5 Year Average | |--------------------------|------------------|-------------|----------------|----------------|----------------| | Tyson Foods Inc | Protein producer | 32.98 | 14.37 | 3.82 | 3.02 | | Lamb Weston Holdings Inc | Chips | 26.16 | 20.83 | 3.15 | 1.6 | | Hormel Foods Corp | Packaged Foods | 30.95 | 23.82 | 6.08 | 3.08 | | Cal-Maine CALM | Eggs | 52.32 | 6.1 | 3.81 | 0.59 | ----- timing is everything with cyclical stocks. broadly, one determines the direction of the cycle and also the mid-cycle valuation plus the investor front-running the business cycle.