5 Best Food Stocks To Buy Now

2. Mondelez International, Inc. (NASDAQ:MDLZ)

Number of Hedge Fund Holders: 53

Mondelez International, Inc. (NASDAQ:MDLZ) is an American confectionery and food holding company, based in Chicago, U.S. Mondelez International, Inc. (NASDAQ:MDLZ) announced its Q3 earnings on November 2. The company posted an EPS of $0.71, beating the estimates by $0.01. Its revenue for the quarter grew by 7.6% from the same period last year, at $7.18 billion.

This September, Morgan Stanley initiated its coverage on Mondelez International, Inc. (NASDAQ:MDLZ) with an Overweight rating and a $69 price target, as the company expects growth in its long-term organic sales. Moreover, the firm believes that the company has strong pricing power and is leveraged to a post-Covid recovery, which makes it one of the best food stocks to buy now.

At the end of Q2, 53 hedge funds tracked by Insider Monkey reported owning stakes in Mondelez International, Inc. (NASDAQ:MDLZ), valued at roughly $3 billion. In the previous quarter, 45 hedge funds had stakes in the company, worth $2.8 billion, which highlights a positive hedge fund sentiment in Q2. Ric Dillon’s Diamond Hill Capital is the largest shareholder of Mondelez International, Inc. (NASDAQ:MDLZ) in Q3, owning roughly 10 million shares.