In this article, we will discuss 5 best plant-based companies to invest in. If you want to read about the growth of the plant-based market and the major catalysts driving that growth, you can go to 10 Best Plant Based Companies to Invest In.
5. Kellogg Company (NYSE:K)
Number of Hedge Fund Holders: 31
Kellogg Company (NYSE:K) is a key player in the plant-based proteins sector. About 99% of its products are meatless and plant-based. On February 10, 2022, Kellogg Company (NYSE:K) reported earnings for the fiscal fourth quarter of 2021. The company generated revenues of $3.42 billion, outperforming market consensus by $28.64 million. The company’s earnings per share for the quarter came to $0.83, beating EPS estimates by $0.04. As of April 7, 2022, the stock’s trailing six-month returns are up to 6.01% and the company boasts a market cap of $22.76 billion.
This February, Goldman Sachs analyst Jason English raised his price target on Kellogg Company (NYSE:K) to $68 from $63 and reiterated a Neutral rating on the shares, in light of the company’s strong gains for the fourth quarter of 2021. The analyst also narrowed his fiscal year 2022 EPS view of the stock to $4.10-$4.14 from $3.86-$4.14.
Insider Monkey identified 31 hedge funds having long positions in Kellogg Company (NYSE:K) at the close of Q4 2021. The total stakes of these funds amounted to $350.73 million, up from $290.01 million in the prior quarter with 22 positions. The hedge fund sentiment for the stock is positive. The largest stakeholder in the company, as of the end of December 2021, was Renaissance Technologies. According to our data, the fund’s stakes in the Kellogg Company (NYSE:K) were worth $139.27 million, which represents 0.17% of Renaissance Technologies Q4 2021 investment portfolio.
4. Hormel Foods Corporation (NYSE:HRL)
Number of Hedge Fund Holders: 32
Hormel Foods Corporation (NYSE:HRL) develops, processes, and distributes various meat, nuts, and food products to retail, food services, deli, and commercial customers in the United States and internationally. This March, Argus analyst John Staszak upgraded Hormel Foods Corporation (NYSE:HRL) to Buy from Hold and gave the stock a $57 price target. The analyst commented that although the company faces challenges from rising costs and supply-chain constraints, he expects the company to balance out inflationary pressures through price hikes and to benefit from strong product demand.
On March 1, 2022, Hormel Foods Corporation (NYSE:HRL) released its earnings report for the fiscal first quarter of 2022 in which it beat revenue estimates by $124.40 million. The company reported earnings per share of $0.44 and generated revenues amounting to over $3.04 billion, up 23.70% year over year from $2.46 billion. As of April 7, 2022, Hormel Foods Corporation’s (NYSE:HRL) trailing six-month returns are up to 26.89% and the company is worth $28.83 billion.
At the close of Q4 2021, 32 hedge funds were bullish on Hormel Foods Corporation (NYSE:HRL) having collective stakes of $542.43 million. This is compared to 29 positions in the prior quarter with stakes worth $476.82 million. Citadel Investment Group is the most prominent shareholder in the company having stakes worth $147.99 million.
Here is what LRT Capital Management had to say about Hormel Foods Corporation (NYSE:HRL) in its third-quarter 2021 investor letter:
“Hormel Foods Corporation (HRL) – the maker of SPAM and Applegate Turkey (among many other products), is down over 20% since peaking last year, largely on fears of higher cost. We expect the company will be able to raise prices to offset cost inflation as they have always been able to do win their past.”
3. Tyson Foods, Inc. (NYSE:TSN)
Number of Hedge Fund Holders: 36
Tyson Foods, Inc. (NYSE:TSN) is one of the world’s largest meat producers. The company operates through Beef, Pork, Chicken, and Prepared Foods segments. As of April 7, 2022, Tyson Food, Inc. (NYSE:TSN) has gained 20.68% over the past twelve months.
This February, Tyson Foods, Inc. (NYSE:TSN) released its earnings report for the fiscal first quarter of 2022 in which it beat EPS estimates by $0.94. The company reported quarterly revenues of $12.93 billion, up 23.64% year over year, beating revenue estimates by $766.79 million. The company’s earnings per share for the quarter came to $2.87.
On February 8, 2022, Stephens analyst Ben Bienvenu raised his price target on Tyson Foods, Inc. (NYSE:TSN) to $115 from $110 and maintained an Overweight rating on the shares after the company’s Q1 earnings beat. In addition to strong quarterly gains, the analyst noted that the company has raised its margin guidance for chicken, beef, and prepared foods, also adding that the company’s share buyback of 4.2 million shares puts it in a position for growth.
By the end of the fourth quarter of 2021, 36 hedge funds were long Tyson Foods, Inc. (NYSE:TSN) having stakes worth more than $1.01 billion. This is compared to 33 positions in the preceding quarter with collective stakes of $865.19 million. As of December 31, 2021, Yacktman Asset Management is the most prominent shareholder in Tyson Foods, Inc. (NYSE:TSN) having stakes worth over $239.88 million.
2. Bunge Limited (NYSE:BG)
Number of Hedge Fund Holders: 38
Bunge Limited (NYSE:BG) operates as an agribusiness and food company worldwide. The company has four primary segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. Bunge Limited (NYSE:BG) was spotted on 38 hedge fund portfolios at the close of the fourth quarter of 2021. The total stakes of these funds in the company amounted to $655.62 million, up from $538.8 million in the prior quarter with 37 positions. The hedge fund sentiment around Bunge Limited (NYSE:BG) is positive.
On February 11, 2022, BofA analyst Steve Byrne raised his price target on Bunge Limited (NYSE:BG) to $120 from $105 and upgraded his rating to Buy from Neutral on the shares. The analyst commented that he sees Bunge Limited (NYSE:BG) being well-positioned to benefit from the global dislocation in crop supply and sees upside in the company’s processing and refined oil businesses.
This February, Bunge Limited (NYSE:BG) reported that its earnings per share for the fiscal fourth quarter of 2021 came to $3.49, beating expert EPS estimates by $0.62. The company reported quarterly revenues of $16.68 billion, up 32.30% year over year, outperforming market consensus by $1.19 billion. As of April 7, 2022, Bunge Limited (NYSE:BG) has gained 37.79% over the past six months and is worth $16.62 billion on the open market.
As of March 21, 2022, Candlestick Capital Management is the dominating shareholder in Bunge Limited (NYSE:BG), owning more than 1 million shares of the stock. The fund’s stakes in the company were valued at $95.64 million, which covers 1.41% of its Q4 2021 investment portfolio.
1. Archer Daniels Midland Company (NYSE:ADM)
Number of Hedge Fund Holders: 41
Archer Daniels Midland Company (NYSE:ADM) is a leading multinational provider of plant-based proteins, headquartered in Chicago. This January, the company reported earnings per share of $1.50, beating estimates by $0.13, for the fiscal fourth quarter of 2021. The company’s quarterly revenues came to $23.09 billion, up 28.43% year over year, and outperformed market consensus by $2.86 billion. As of April 7, 2022, Archer Daniels Midland Company (NYSE:ADM) has gained 48.49% over the past six months and is worth an astounding $52.86 billion on the open market.
On April 6, 2022, Stifel analyst Vincent Anderson raised his price target on Archer Daniels Midland Company (NYSE:ADM) to $100 from $80 and reiterated a Buy rating on the shares.
Archer Daniels Midland Company (NYSE:ADM) is attracting bullish views from analysts and investors alike. At the end of the fourth quarter of 2021, 41 hedge funds held long positions in the company. The fund’s collective stakes amounted to $481.23 million, up from $351.48 million in the preceding quarter with 27 positions. The hedge fund sentiment for the stock is positive.
At the close of Q4 2021, Ric Dillon’s Diamond Hill Capital was identified as the leading shareholder in Archer Daniels Midland Company (NYSE:ADM) owning over 5.7 million shares of the stock. The fund’s stakes in the company are estimated at $385.92 million which represents 1.37% of Diamond Hill Capital’s 13F portfolio.
You can also take a look at 15 Largest Dairy Companies in The World and 15 Largest Fast Food Companies in The World.
