Why are there so many consumer goods stocks performing poorly at the moment?

Possible buying opportunity?

I've noticed that a lot of established, big-name companies are at 52-week lows or just have moved mostly sideways this year. When I look up a few of these companies to see why, I see a lot of comments like "glp-1's will most likely reduce consumer demand" but is that really this significant of an issue? I understand the concern that people don't have as much spending money lately so consumer products are taking a hit, but these hits feel way more than it should be.

A lot of these companies have huge, established, and efficient global supply lines across the globe with a wide variety of products under their belts. Just to name a few:

Nestle:

  • Down ~29% in the past year and it is right near its 52-week low but has an attractive p/e ratio of 17.14.

Procter & Gamble:

  • Mostly sideways having the same stock price now than it did 3 years in 01/2022. It currently has a p/e ratio of 27.82.

Coca-Cola:

  • Always known to be a pretty stable company that doesn't change too much but there has been a pretty significant drop since August. Currently has a p/e ratio of 25.27.

Pepsi:

  • Down ~13% this year and it is right near its 52-week low. The p/e ratio is a bit high but still pretty attractive at 21.43.

Anheuser Busch InBev:

  • Down ~25% in the past year and it is nearly at its 52-week low with an attractive p/e ratio of 16.55.

Kraft Foods:

  • Down ~22% in the past year and it is nearly at its 52-week low. It currently has a p/e ratio of 26.73.

General Mills:

  • Down ~6% this year and it is nearly at its 52-week low. It has an attractive p/e ratio of 13.25.

All of these companies have HUGE, established global supply chains and have so many products intertwined in everyday life across the globe. Why do you think these companies are taking these hits? Do you think any of these companies are a good buy?

Personally, I have my eyes on Nestle, Pepsi, and InBev the most. I don't have any stakes yet but these are stocks I've been watching closely recently.