In this article, we will take a look at the 5 best alternative meat stocks to buy. If you want to read our discussion on the recent developments in the industry, go directly to 10 Best Alternative Meat Stocks to Buy.
5. Conagra Brands, Inc. (NYSE:CAG)
Number of Hedge Fund Holders: 29
Conagra Brands, Inc. (NYSE:CAG) is a consumer packaged food company that ranks 5th in our list of the best alternative meat stocks to buy. The firm operates under its Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. It is one of the best beef stocks to buy and provides alternative to meat. The Chicago-based company recently rolled out 50 new products this year throughout its frozen, grocery, and snacks divisions. Conagra Brands, Inc. (NYSE:CAG) completed the acquisition of Pinnacle Foods in 2018 including the latter’s Gardein brand that sold plant-based meat substitute products.
Insider Monkey took a look at Q2 hedge fund portfolios for Conagra Brands, Inc. (NYSE:CAG) and found that 29 had stakes in the firm. Noam Gottesman’s GLG Partners was the largest stakeholder of Conagra Brands, Inc. (NYSE:CAG) which bought 3.4 million shares that were valued at $115 million.
4. Ingredion Incorporated (NYSE:INGR)
Number of Hedge Fund Holders: 30
Ingredion Incorporated (NYSE:INGR) is one of the best alternatives to beef stocks to buy as it provides nutrition ingredients including potato starches. In the plant-based meat sector, Ingredion Incorporated (NYSE:INGR) is one of the popular stocks. During its Q2 earnings call, CEO Jim Zallie said that plant-based trends is a long-term “enduring” trend. The CEO also highlighted that since clients’ preferences were changing, the firm was expecting new requirements to implement. Ingredion Incorporated (NYSE:INGR) recently introduced NOVATION Indulge 2940, the non-GMO functional native corn starch and clean label ingredient.
Out of 910 hedge funds profiled by Insider Monkey for Q2, 30 had stakes in Ingredion Incorporated (NYSE:INGR). The largest stakeholder was Donald Yacktman’s Yacktman Asset Management which owned about 2.2 million shares of the firm that were valued at $236.7 million.
3. Tyson Foods, Inc. (NYSE:TSN)
Number of Hedge Fund Holders: 31
Tyson Foods, Inc. (NYSE:TSN) was incorporated in 1935 and operates as a food company globally through its Beef, Pork, Chicken, and Prepared Foods segments. In June 2021, the company introduced a new plant-based product line, First Pride. It was the first time Tyson Foods, Inc. (NYSE:TSN) rolled out a plant-based product in Asia. As customers were rethinking about meat alternatives and their health, Tyson Foods, Inc. (NYSE:TSN) tapped the need and launched First Pride initially in Malaysia. Moreover, the company’s Raised & Rooted brand also rolled out plant-based burger patties and Italian sausages, in May 2021 as an alternative to meat and thus Tyson Foods, Inc. (NYSE:TSN) is one of the best alternatives to beef stocks.
At the end of June 30, Tyson Foods, Inc. (NYSE:TSN) had 31 hedge funds investors out of 910 funds tracked by Insider Monkey database. Donald Yacktman’s Yacktman Asset Management was the largest stakeholder with 3.1 million shares that were valued at $156.4 million.
2. Archer-Daniels-Midland Company (NYSE:ADM)
Number of Hedge Fund Holders: 32
Archer-Daniels-Midland Company (NYSE:ADM) ranks 2nd in our list of the best alternative meat stocks to buy. The company says it leverages “both the plant-based revolution and an increased interest in organic, sustainable and clean-label foods.” To search for meat alternatives, Archer-Daniels-Midland Company (NYSE:ADM) offers plant-based whole muscle solutions globally as plant-based products’ demand is rising around the world. The firm also sells plant-based burgers to those who prefer meat alternatives. The company mainly operates across pea, soy and wheat as part of its plant-based protein ingredients portfolio. In Q3, it posted earnings of $1.63 per share, beating analysts’ expectations of $1.5.
“In our plant-based main courses, ADM Arcon and TVP proteins are the stars,” Archer-Daniels-Midland Company (NYSE:ADM) said on its website.
Insider Monkey took a look at hedge fund portfolios for Archer-Daniels-Midland Company (NYSE:ADM)’s second quarter of 2023 investments and concluded that 32 had stakes in the firm. Cliff Asness’ AQR Capital Management was Archer-Daniels-Midland Company (NYSE:ADM)’s largest stakeholder which owned about 2.2 million shares for about $162.1 million.
1. The Kraft Heinz Company (NASDAQ:KHC)
Number of Hedge Fund Holders: 39
Ranked at the top of our list of the best alternative meat stocks to buy, The Kraft Heinz Company (NASDAQ:KHC) is one of the largest food production firms in the world. With a market capitalization of $41 billion, the company’s Philadelphia brand introduced a plant-based spread offering in this July. The spread is in three different flavors: Original, Strawberry, and Chive and Onion. In 2019, the company’s plant-based alternatives sales rose by $500 million and are expected to hit $4.5 billion this year. It recently declared a quarterly dividend of $0.40 per common stock.
At the end of June 30, The Kraft Heinz Company (NASDAQ:KHC) had 39 hedge funds investors out of 910 funds tracked by Insider Monkey database. Warren Buffett’s Berkshire Hathaway was the largest stakeholder with 325.6 million shares that were valued at $11.6 billion.
Disclosure: None. You can also take a look at 10 Stocks That Will Skyrocket and 11 Best Stocks to Buy in Falling Markets According to Hedge Funds.
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