M$15-17.$ Identifying Comparables for Valuation Which would be a better comparable to use in valuing Hershey Co$.$ using a PE ratio$-$based multiple: Conagra, General Mills, or Hormel Foods Corp.? Explain your answer without reference to the actual PE ratios. Company Estimated Earnings Growth ROE Debt$$to$$Equity Forward PE Hershey $($HSY$).................8\mathrm{.}7\%89\mathrm{.}89\%2\mathrm{.}4626\mathrm{.}75$ Conagra Brands $($CAG$).........9\mathrm{.}2\%11\mathrm{.}54\%1\mathrm{.}4414\mathrm{.}30$ General Mills $($GIS$).............6\mathrm{.}6\%27\mathrm{.}46\%1\mathrm{.}9416\mathrm{.}20$ Hormel Foods $($HRL$)............5\mathrm{.}0\%17\mathrm{.}29\%0\mathrm{.}0424\mathrm{.}73$