5 Best Food Stocks to Buy Now

4. Tyson Foods, Inc. (NYSE: TSN)

Arkansas-based Tyson is the second largest processor of meat, chicken and pork. In December 2020, Tyson Foods shares reached a nine-month high after Piper Sandler analyst Michael Lavery upgraded the stock to Overweight from Neutral with a $77 price target, upped from $70. The analyst said that the market has not priced in the upcoming recovery in the food services sector following the coronavirus vaccines. Tyson has a solid exposure to the food services and restaurant sector.

Cliff Asness’ AQR Capital Management is one of the top shareholders of Tyson, with 1.93 million shares of the company, worth $115.1 million. The fund is one of the 36 elite funds tracked by Insider Monkey that reported owning shares in Tyson entering the fourth quarter. Here is what we said about TSN last month:

“The stock of one of the largest processors of chicken, beef and pork in the world, is down by more than 22% since the beginning of the year as the company has been hit hard by the pandemic with several facilities closed over outbreaks. However, Tyson posted better than expected EPS and revenue for the last quarter and provided a strong full year-guidance, saying that it expects strong performance of its Beef and Pork segments and growth in Chicken and Prepared foods segments. Recently, Piper Sandler upgraded Tyson Foods, Inc. (NYSE:TSN) to Overvweight from Neutral and raised the price target to $77 from $70. The analyst suggested that a reopening of the economy as a vaccine is released will boost food service sales, although eat-at-home trends will also remain strong.”