12 Best Food Stocks to Buy Under $30

10. Dole plc (NYSE:DOLE)

Stock Price: $14.97

Number of Hedge Fund Holders: 22

Dole plc (NYSE:DOLE) distributes and markets fresh vegetables and fruits. The company operates through the Fresh Fruit, Diversified Fresh Produce –EMEA, Diversified Fresh Produce – Americas and ROW, and Fresh Vegetables segments. It ranks tenth on our list of the best food stocks to invest in under $30.

On May 1, the company announced the successful $1.2 billion refinancing of its credit facilities. This occurred through an Amended and Restated Credit Agreement introducing new senior secured facilities, including term loans totaling $600 million and a $600 million revolving credit facility. These facilities aim to support Dole plc’s (NYSE:DOLE) working capital and general corporate purposes, as well as refinance existing debt. The refinancing is anticipated to bolster the company’s financial flexibility and strengthen its market position by securing long-term financing with favorable terms.

Analysts are also bullish on the stock because of its strong 2024 performance. The company continued its solid growth trend over the last number of years and exceeded its most recent adjusted EBITDA guidance by around $12 million. Dole plc (NYSE:DOLE) grew organically in 2024, while its Group revenue and adjusted EBITDA rose on a like-for-like basis, supported by growth across its core business areas and categories. It expects to continue this growth in 2025, reflecting confidence in its operations.