7 Best Vegan Stocks to Buy According to Hedge Funds

3. Conagra Brands, Inc. (NYSE:CAG)

Number of Hedge Fund Holders: 31

Conagra Brands, Inc. (NYSE:CAG), based in Chicago, is one of North America’s leading branded food companies, with a portfolio that includes plant-based brands like Gardein and Earth Balance.

Conagra Brands, Inc. (NYSE:CAG) reported a first-quarter sales decline of 3.8% to $2.79 billion, falling short of the 2.1% decrease expected by analysts, amid a consumer shift toward more budget-friendly options. Despite this, the company reaffirmed its fiscal year 2025 earnings guidance, remaining on track with its annual goals. Moreover, Conagra Brands, Inc. (NYSE:CAG) has continued to strengthen its portfolio, having acquired Sweetwood Smoke & Co. and adding FATTY Smoked Meat Sticks to its offerings.

On October 3, Goldman Sachs maintained its Conviction Buy rating on Conagra Brands, Inc. (NYSE:CAG) with a $36 price target, expressing optimism despite an 8% drop in its share price following the earnings report. Goldman Sachs attributed some of the underperformance to a temporary production issue with ConAgra’s Hebrew National brand, which has since been resolved.