9 Best Alternative Meat Stocks to Buy

3. The Kraft Heinz Company (NASDAQ:KHC)

Number of Hedge Fund Holders: 38      

The Kraft Heinz Company (NASDAQ:KHC) manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. The company has made a name for itself in the alternative meats business through the BOCA brand, which is well-known in the plant-based food sector. There are several compelling factors that make this company a strong investment. Firstly, as per the report for the third quarter of 2024, the gross profit margin increased 20 basis points to 34.2%, and the Adjusted Gross Profit Margin increased 30 basis points to 34.3%, demonstrating the company’s ability to improve its profitability through better cost control or higher pricing, leading to improved margins. Secondly, the company, through its joint venture with TheNotCompany, launched its first plant-based meat products under the Oscar Mayer brand named NotHotDogs and NotSausages. Lastly, the company has introduced plant-based alternatives to traditional dairy products, including Kraft NotCheese American Style Plant-Based Slices and NotMayo Plant-Based Mayo.