7 Best Vegan Stocks to Buy According to Hedge Funds

5. Tyson Foods, Inc. (NYSE:TSN)

Number of Hedge Fund Holders: 27

Tyson Foods, Inc. (NYSE:TSN) is a global food company that has expanded into the alternative meat market in recent years. Its offerings include plant-based nuggets made primarily from pea protein, plant-based patties, and blended products that combine plant-based ingredients with traditional meat, aiming to reduce overall meat content.

The company exceeded analyst expectations by reporting adjusted earnings per share of $0.87 in Q3 2024. This strong performance prompted management to narrow its full-year 2024 guidance toward the higher end. Analysts project Tyson’s EPS at $1.95 for the first fiscal year, with estimates rising to $3.78 for the second fiscal year, reflecting growing confidence in the company’s ability to navigate industry challenges.

Citi has revised its outlook on Tyson Foods, Inc. (NYSE:TSN) on October 9, lowering the price target from $63 to $60 but maintaining a Neutral rating on the stock. This update comes ahead of Tyson’s anticipated fiscal fourth-quarter earnings report, set for release on November 11. Citi’s analysis suggests that Tyson Foods, Inc. (NYSE:TSN) could exceed the Visible Alpha consensus by $0.10 in EPS for Q4 of fiscal 2024. However, for fiscal year 2025, Citi forecasts an EPS $0.21 below the consensus due to expected declines in operating profit and other below-the-line items. Despite the revised price target and lower EPS outlook, Citi does not expect a negative surprise in Tyson’s initial operating profit guidance for the upcoming year.