12 Best Food Stocks to Buy Under $30

6. Flowers Foods, Inc. (NYSE:FLO)

Stock Price: $17.53

Number of Hedge Fund Holders: 30

Flowers Foods, Inc. (NYSE:FLO) produces and markets packaged bakery foods in the US, such as buns, breads, bagels, tortillas, English muffins, and snack items. It has an elaborate brand portfolio, including Wonder, Tastykake, Nature’s Own, Dave’s Killer Bread (DKB), and more. The company takes the sixth spot on our list of the best food stocks to buy now under $30.

On February 21, 2025, Flowers Foods, Inc. (NYSE:FLO) announced the $795 million acquisition of Purposeful Foods Holdings, Inc., the parent company of Simple Mills. The acquisition is expected to enhance the company’s presence in the snacking and better-for-you segments, improve its growth and margin prospects, and diversify its category exposure.

Flowers Foods, Inc. (NYSE:FLO) is also operating soundly, with its net income growing 20.9% in fiscal Q4 2024 to $43.1 million, representing 3.9% of sales, a 70-basis point increase. This growth was attributed to higher operating income resulting from the optimization of its non-retail business, moderating ingredient costs, decrease in asset impairment, and cost-saving initiatives taken by the company. The company also grew its adjusted net income by 8.7%, while adjusted EBITDA rose 6.3%.

The company expects to continue its growth momentum in fiscal 2025. H1 2025 is anticipated to benefit from moderating commodity costs, savings, and price initiatives, as well as the carryover of new business wins.