5 Best Plant Based Companies to Invest In

In this article, we will discuss 5 best plant-based companies to invest in. If you want to read about the growth of the plant-based market and the major catalysts driving that growth, you can go to 10 Best Plant Based Companies to Invest In.

5. Kellogg Company (NYSE:K)

Number of Hedge Fund Holders: 31

Kellogg Company (NYSE:K) is a key player in the plant-based proteins sector. About 99% of its products are meatless and plant-based. On February 10, 2022, Kellogg Company (NYSE:K) reported earnings for the fiscal fourth quarter of 2021. The company generated revenues of $3.42 billion, outperforming market consensus by $28.64 million. The company’s earnings per share for the quarter came to $0.83, beating EPS estimates by $0.04. As of April 7, 2022, the stock’s trailing six-month returns are up to 6.01% and the company boasts a market cap of $22.76 billion.

This February, Goldman Sachs analyst Jason English raised his price target on Kellogg Company (NYSE:K) to $68 from $63 and reiterated a Neutral rating on the shares, in light of the company’s strong gains for the fourth quarter of 2021. The analyst also narrowed his fiscal year 2022 EPS view of the stock to $4.10-$4.14 from $3.86-$4.14.

Insider Monkey identified 31 hedge funds having long positions in Kellogg Company (NYSE:K) at the close of Q4 2021. The total stakes of these funds amounted to $350.73 million, up from $290.01 million in the prior quarter with 22 positions. The hedge fund sentiment for the stock is positive. The largest stakeholder in the company, as of the end of December 2021, was Renaissance Technologies. According to our data, the fund’s stakes in the Kellogg Company (NYSE:K) were worth $139.27 million, which represents 0.17% of Renaissance Technologies Q4 2021 investment portfolio.