5 Best Food Stocks to Buy Now

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

Number of Hedge Fund Shareholders: 50

Mondelez International, Inc. (NASDAQ:MDLZ) is a snack food and beverage giant that sells iconic brands like Oreo, Cadbury, Trident, Halls, and Nabisco. The company operates more than 150 manufacturing facilities and sells its products in more than 160 countries worldwide.

Mondelez International, Inc. (NASDAQ:MDLZ) shares were up throughout much of 2022, but are now down by about 5% after trending down for much of the last month. Higher prices has the company anticipating solid organic revenue growth of greater than 8% this year, though higher input and transportation costs are nonetheless weighing on its bottom line. Q2 EPS of $0.54 missed estimates by $0.10 and gross margin plummeted by 3.3 percentage points to 36.3%.

Unlike Hershey, hedge funds have slowly been unloading Mondelez International, Inc. (NASDAQ:MDLZ) over the years, with 29% fewer smart money shareholders of the company on June 30 compared to early 2016. Several funds do own significant $200 million-plus stakes in MDLZ, including Ken Griffin’s Citadel Investment, Ric Dillon’s Diamond Hill Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.