5 Best Future Food Stocks to Invest in Today

3. Hormel Foods Corporation (NYSE: HRL)

Number of Hedge Fund Holders: 31 

Hormel Foods Corporation (NYSE: HRL) is a Minnesota-based food company that makes and sells several meat-related and other food products. It has separate wings dedicated to making grocery products and refrigerated foods. The firm was founded in 1891 and is ranked third on our list of 10 best future food stocks to invest in today. Some of the items sold by the company include sausages, hams, canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, salsas, tortilla chips, and others. 

Hormel Foods Corporation (NYSE: HRL) announced back in February that it had made a deal with rival Kraft for the purchase of nuts brand Planters for more than $3 billion. The deal will likely provide the firm with tax benefits totaling $560 million. The Planters made sales worth more than $1 billion in 2020 and is expected to grow further under new owners. 

Out of the hedge funds being tracked by Insider Monkey, Greenwich-based investment firm AQR Capital Management is a leading shareholder in the firm with 3.7 million shares worth more than $172 million.