admin Within the altered landscape of the food industry, the changing consumer trends due to the Covid pandemic have caused further modifications. The pandemic has not only restricted the movement of people, but has also significantly affected our food consumption patterns. At-home-consumption has augmented over the course of the bygone year. Evaluating the best investment options in the food industry is crucial at this juncture. According to a recent report, among the most profitable stock options in the food industry the following are the most formidable ones:
Conagra Brands Inc.
Conagra Brands Inc. is an Illinois-based company that sells products including frozen dinners, hot cocoa, snacks and peanut butter to both customers and the food service industry. Earlier in January, Conagra reported fiscal second-quarter results, posting an organic net sales growth of 8.1%. Adjusted gross margin in the quarter jumped by 144 bps to 29.9% versus the consensus of $29.4%. Adjusted EBITDA increased 16.7% to $712 million. The company’s CEO said that Conagra will benefit from the shifting consumer behavior that is expected to persist even after the pandemic.
General Mills
General Mills is projected as the 3rd most profitable food stock company. The company is behind famous brands like Old El Paso, Häagen-Dazs and Cheerios. In the fiscal second quarter of 2021, General Mills reported a 7% jump in organic sales, above the Street’s estimate of 6.2%. Adjusted gross margin increased 20 basis points to 35.5% of sales. The company said that it expects strong growth for the remainder of 2021, as at-home food demand continues to soar.
Kraft Heinz Co.
One of the largest and most renowned food and beverage companies in North America- Kraft Heinz Co. recorded an annual revenue of a whopping $25 billion. Warren Buffett’s Berkshire Hathaway owns 325.63 million shares of Kraft, as of the end of the third quarter. The total worth of these shares is $9.75 million. Overall, 39 hedge funds held stakes in the company entering the fourth quarter.
Mondelez
Mondelez is the top contender in the race to win the uno position within the food stock arena. The Illinois-based company is famous for Cadbury chocolate and Oreo cookies. It has an annual revenue of about $26 billion and operates in about 160 countries across the globe. Earlier in January, Jefferies analyst Rob Dickerson upped Mondelez’s price target to $66 from $62 and maintained a Buy rating. Mondelez is in Jefferies’ top food picks of 2021.
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