In this article, we will take a look at the 5 Best Food Stocks with Highest Dividends. For a deeper discussion and analysis, read 10 Best Food Stocks with Highest Dividends.
5. The J. M. Smucker Company (NYSE:SJM)
Dividend Yield as of April 24: 4.57%
On April 21, Stifel lowered its price recommendation on The J. M. Smucker Company (NYSE:SJM) to $100 from $120. It reiterated a Hold rating on the shares. The analyst said food group earnings remain under pressure. Volume growth has been weak, and companies are spending more to support their brands, which is weighing on margins. Even after those investment cycles are through, sales growth may remain modest.
On April 14, Barclays lowered its price target on Smucker to $103 from $125. It maintained an Equal Weight rating on the shares. The firm adjusted targets across the consumer staples group as part of a Q1 preview. Barclays noted “growing caution” heading into earnings due to higher input costs. In food, there are “building concerns” around the sustainability of the dividend for certain companies, the analyst said in a research note.
The J. M. Smucker Company (NYSE:SJM) manufactures and markets branded food and beverage products worldwide. Its portfolio includes a range of brands sold mainly through retail channels across North America.
4. General Mills, Inc. (NYSE:GIS)
Dividend Yield as of April 24: 6.88%
On April 21, Stifel lowered its price recommendation on General Mills, Inc. (NYSE:GIS) to $40 from $44. It reiterated a Buy rating on the shares. The analyst said food group earnings remain under pressure. Weak volume growth is weighing on results. Reinvestment needs are also compressing margins, and sales growth may stay slower even after those investments are absorbed.
On April 14, BTIG initiated coverage of General Mills with a Neutral rating and no price target. The firm said the company’s growth fundamentals appear pressured. It also pointed to uncertainty around outcomes from the Remarkability playbook, a levered balance sheet, and a valuation that is not deeply discounted relative to U.S. food peers. The analyst added that growth reversion could support upside, though category positioning remains a concern.
General Mills, Inc. (NYSE:GIS) is a global manufacturer and marketer of branded consumer foods. Its segments include North America Retail, International, North America Pet, and North America Foodservice.
3. The Kraft Heinz Company (NASDAQ:KHC)
Dividend Yield as of April 24: 7.28%
On April 23, Morgan Stanley lowered its price recommendation on The Kraft Heinz Company (NASDAQ:KHC) to $22 from $23. It reiterated an Underweight rating on the shares. The firm is adjusting estimates across its packaged foods coverage to reflect recent trends. The analyst pointed to a more challenging forward commodity outlook, especially after the recent rise in oil.
On April 9, BNP Paribas lowered its price goal on KHC to $18 from $19. It maintained an Underperform rating on the shares. The firm said US packaged food valuations “look cheap relative to history,” but believes they are “cheap for a reason.” It lowered targets across the group to reflect volume growth that “looks to be muted at best” and pricing power that “could be somewhat illusory.”
The Kraft Heinz Company (NASDAQ:KHC) manufactures and markets food and beverage products globally. Its portfolio is organized across eight consumer-driven platforms: Taste Elevation, Easy Ready Meals, Substantial Snacking, Desserts, Hydration, Cheese, Coffee, Meats, and other grocery products. The company reports two segments by geography: North America and International Developed Markets.
2. The Campbell’s Company (NASDAQ:CPB)
Dividend Yield as of April 24: 7.44%
On April 23, Morgan Stanley lowered its price target on The Campbell’s Company (NASDAQ:CPB) to $23 from $25 and kept an Equal Weight rating. The firm is revising estimates across its packaged foods coverage to reflect recent trends. The analyst pointed to a tougher commodity outlook, especially after the recent rise in oil.
On April 14, Rob Dickerson of BTIG initiated coverage of Campbell’s with a Neutral rating. The firm said category and brand positioning remain a factor. It also highlighted ongoing volume deleverage, cost inflation, execution disruptions, and mix. Taken together, these issues limit near-term top-line and margin recovery potential, the analyst said in a research note. BTIG added that leverage and tighter cash flexibility support the stock’s current discounted valuation.
The Campbell’s Company (NASDAQ:CPB), formerly Campbell Soup Company, provides affordable food and beverages. It operates through two divisions, Meals & Beverages and Snacks, and manages a portfolio of about 16 brands.
1. Conagra Brands, Inc. (NYSE:CAG)
Dividend Yield as of April 24: 9.72%
On April 23, Megan Alexander Clapp of Morgan Stanley lowered the firm’s price target on Conagra Brands, Inc. (NYSE:CAG) to $15 from $17 and kept an Equal Weight rating. The firm is adjusting its estimates across packaged foods to reflect recent trends. The analyst pointed to a tougher commodity outlook, especially after the recent move higher in oil.
During the fiscal Q3 2026 earnings call, Executive VP and CFO Marberger reaffirmed expectations for Q4. He said the company is looking for positive organic net sales growth, in line with the midpoint of its full-year guidance. On margins, he expects an improvement from Q3 levels. Advertising and promotion spending as a share of sales should ease in Q4. The extra 53rd week is also expected to add some operating leverage. He also pointed to seasonal trade patterns, along with the timing of productivity efforts and inflation, as factors supporting margin improvement.
Conagra Brands, Inc. (NYSE:CAG) is a branded food company. Its segments include Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment focuses on shelf-stable products sold across retail channels in the United States.
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