12 Best Chocolate Stocks to Buy According to Hedge Funds

9. Conagra Brands Inc. (NYSE:CAG)

Number of Hedge Fund Holders: 26

Market cap as of February 4: $12.15 billion

Chicago-based Conagra Brands, Inc. (NYSE:CAG) is one of the top branded food corporations in North America and one of the Best Chocolate Stocks. There are options for any occasion from popular brands like Birds Eye, Duncan Hines, Healthy Choice, Marie Callender’s, Reddi-wip, and Slim Jim. The Swiss Miss brand offers a rich, luscious chocolate experience that is created without artificial sweeteners using fresh milk and European cocoa.

For more than a century, the company started out as a flour-milling company in the Midwest and later expanded into other commodity-based industries until establishing itself as a powerfully branded, pure-play consumer packaged products food business. The company has expanded its food businesses through organic brand growth, acquisitions, and innovation that contribute to the delivery of delicious food across both its traditional and up-and-coming brands. The company made over $12 billion in net revenues in fiscal 2024.

In January 2025, Conagra Brands, Inc. (NYSE:CAG) introduced the “On Track” badge on 26 Healthy Choice products, designating them as “GLP-1 friendly” for customers who are making efforts to lose weight and manage their diabetes. The program promotes meals that are high in protein, low in calories, and high in fiber. Simply Steamers and Café Steamers, which retail for $3.49 to $3.99, respectively, have the badge. The USDA-approved labeling is intended to make it simple for consumers who are health-conscious and GLP-1 users to choose appropriate meal selections. This positions it well to capitalize on emerging consumer trends and drive future growth.

Recently, Conagra Brands, Inc. (NYSE:CAG) has been showing signs of a rebound with increasing shipment volumes, organic sales growth, and a growing market share in its portfolio.

John Overdeck And David Siegel’s Two Sigma Advisors was the largest stakeholder in the company among the funds in Insider Monkey’s database at the end of Q3 2024. It owns 6.08 million shares worth $197.62 million as of Q3.