In response to a question about whether falling valuations among smaller food companies could shift Post’s capital allocation priorities away from buybacks, CEO Rob Vitale said the environment is “certainly changing as the multiples change,” adding that M&A becomes more attractive as valuations come down. However, he emphasized that whether multiples are “exactly where it needs to be” remains “in the eye of the beholder.”Investor relations leader Daniel O’Rourke said the company also provided investors with ...