10 Best Alternative Meat Stocks to Invest In

3. The Kroger Co. (NYSE:KR)

Number of Hedge Fund Holders: 46   

The Kroger Co. (NYSE:KR) operates as a beef retailer in the United States. It sells alternative meat products under a private label, as well as from other brands like Beyond Meat, Impossible Food, and JUST Egg. The plant-based meat products include chicken patties and grounds, meatless burgers, deli slices with flavors like ham and turkey, as well as sausages. The company places plant-based meat products alongside traditional meat options in stores, a practice that has helped it post better sales numbers than competitors in this domain. This translates to better earnings. In June, the company raised the quarterly dividend by 10%.

Wall Street analysts are bullish on The Kroger Co. (NYSE:KR) even as a proposed merger with rival Albertsons goes to court. For example, Argus recently raised the price target on the stock to $72 from $70 and kept a Buy rating, noting that the prospects for the food firm were bolstered by affordable private brands, strong customer analytics that allow it to deliver personalized discounts, and a growing emphasis on fresh foods, as well as by the convenience of online ordering and curbside pick-up at stores.