12 Best Food Stocks to Buy Under $30

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3. Grocery Outlet Holding Corp. (NASDAQ:GO)

Stock Price: $16.48

Number of Hedge Fund Holders: 33

Grocery Outlet Holding Corp. (NASDAQ:GO) sells fresh food products and name-brand consumables through an elaborate network of independently operated stores. Its products include fresh meat and seafood, staples, refrigerated and frozen food, and other items. The company takes the third spot on our list of the top food stocks to invest in under $30.

On May 1, analyst Corey Tarlowe from Jefferies maintained a Buy rating on Grocery Outlet Holding Corp. (NASDAQ:GO) and increased the price target to $20.00 from $18.00. The analyst said that the company’s potential for strong performance supports the optimistic sentiment, as its defensive nature positions it well to outperform in economic turbulences. Key improvements in its ordering systems and technology are expected to drive same-store sales and adjusted EBITDA margins, highlighting a positive outlook for its financial performance.

The analyst also noted that Grocery Outlet Holding Corp.’s (NASDAQ:GO) traffic trends are better than expected, supported by the value it offers compared to its competitors. The company has a solid business model and sourcing flexibility that can reduce the effects of tariffs, supporting growth prospects. In addition, management is addressing operational issues, which may result in higher EPS and improved results in the future.

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