5 Food Stocks to Buy Amid Upcoming Global Crisis

1. Nutrien Ltd. (NYSE:NTR)

Number of Hedge Fund Holders: 60

Nutrien Ltd. (NYSE:NTR) is a Canadian company that offers potash, nitrogen, phosphate, and sulfate products to growers directly in the United States, Canada, South America, and Australia. The company declared on May 18 a $0.48 per share quarterly dividend, in line with previous. The dividend is payable on July 15, to shareholders of record on June 30. 

Piper Sandler analyst Charles Neivert raised the price target on Nutrien Ltd. (NYSE:NTR) on May 31 to $125 from $112 and reiterated an Overweight rating on the shares. The analyst believes that grain prices will remain elevated and drive high nutrient values.

According to Insider Monkey’s database, 60 hedge funds were bullish on Nutrien Ltd. (NYSE:NTR) at the end of March 2022, up from 36 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the largest shareholder of the company, with 8.3 million shares worth $870 million. 

Here is what Miller/Howard Investments had to say about Nutrien Ltd. (NYSE:NTR) in its Q1 2021 investor letter:

“For the most part, performance of the stocks within the Income-Equity Strategies was skewed towards the high-performing market sectors with two exceptions – our consumer discretionary and technology stocks both did better than their broad market peers… We bought Nutrien (NTR), a producer of fertilizer, which we believe should benefit from increasing crop prices.”

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