5 Most Undervalued Pot Stocks To Buy According To Hedge Funds

2. Altria Group, Inc. (NYSE:MO)

Number of Hedge Fund Holders: 47

Forward P/E as of February 6: 28.99

One of the biggest tobacco companies in the world, Altria Group, Inc. (NYSE:MO) makes it to the list of the most undervalued pot stocks to buy because the company is an active investor in the space. Altria Group, Inc. (NYSE:MO) on its website says it supports a science-based federal framework for all cannabis products. Altria Group, Inc. (NYSE:MO) also participates in the Coalition for Cannabis Policy, Education, and Regulation (CPEAR). Altria Group, Inc. (NYSE:MO) made headlines back in 2019 when it invested about $1.8 billion in Canadian cannabis company Cronos to buy a 45% ownership stake. However, last year, Altria Group, Inc. (NYSE:MO) notified Cronos Group that it irrevocably gave up its warrant to purchase further shares of Cronos.

As of the end of the third quarter of 2022, 47 hedge funds tracked by Insider Monkey had stakes in Altria Group, Inc. (NYSE:MO). The biggest stakeholder of Altria Group, Inc. (NYSE:MO) during this period was Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital which owns a $383 million stake in the company.