In this article, we will take a look at the 5 best plant-based meat companies to buy. If you want to read our discussion on the recent developments in the industry, go to the 10 Best Plant-Based Meat Companies to Buy.
5. Conagra Brands, Inc. (NYSE:CAG)
Number of Hedge Fund Holders: 29
Value of Hedge Fund Holdings: $255,933,950
Conagra Brands, Inc. (NYSE:CAG) is a Chicago, Illinois-based packaged foods company founded in 1919.
Conagra Brands, Inc. (NYSE:CAG) acquired Pinnacle Foods in 2018 for $10.9 billion, which included the Gardein brand selling plant-based meat substitutes. Gardein was founded in 2003 by Chef Yves Potvin in Canada and was introduced in the US market in 2007. Gardein makes products like chicken tenders, crabless cakes, and beefless tips using soy, wheat, and pea proteins. Conagra Brands, Inc. (NYSE:CAG) has continued to expand Gardein’s distribution into more stores and restaurants to capitalize on rising demand for plant-based meat products.
4. Ingredion Incorporated (NYSE:INGR)
Number of Hedge Fund Holders: 30
Value of Hedge Fund Holdings: $477,875,610
Ingredion Incorporated (NYSE:INGR) is a Westchester, Illinois-based manufacturer of plant-based proteins, starches, sweeteners, and other ingredients for food and beverage companies.
Ingredion Incorporated (NYSE:INGR) works with Impossible Foods to produce proteins for the Impossible Burger using their pea protein isolates. The company supplies potato starches to improve moisture retention and binding for plant-based burgers as well. Ingredion Incorporated’s (NYSE:INGR) expertise in food science and partnerships with manufacturers position it well in the high-growth plant-based meat sector.
3. Tyson Foods, Inc. (NYSE:TSN)
Number of Hedge Fund Holders: 31
Value of Hedge Fund Holdings: $567,590,920
Tyson Foods, Inc. (NYSE:TSN) is a Springdale, Arkansas-based company that has the distinction of being the second biggest meat processor in the world.
Tyson Foods, Inc. (NYSE:TSN) launched its Raised and Rooted brand of plant-based and blended meat products in 2019. The Raised & Rooted line includes plant-based nuggets, burgers, and sausages made from pea protein isolate. The brand is now available at more than 20,000 retail outlets. Departing from its previous practice of introducing new products through its Raised and Rooted line, Tyson Foods, Inc. (NYSE:TSN) opted to unveil a range of plant-based chicken nuggets using its own brand name and logo in June 2023.
2. Kellogg Company (NYSE:K)
Number of Hedge Fund Holders: 38
Value of Hedge Fund Holdings: $730,375,650
Kellogg Company (NYSE:K) is a Battle Creek, Michigan-based packaged food company established in 1906.
Kellogg Company (NYSE:K) entered the plant-based meat market by acquiring the popular veggie burger brand MorningStar Farms in 2019. MorningStar Farms has been making vegetarian and vegan foods since the 1970s. The acquisition gave Kellogg Company (NYSE:K) the ownership of an established brand in the growing plant-based category, adding to its roster of vegetarian offerings. You can read Kellogg Company’s (NYSE:K) Q2 2023 earnings call transcript here.
1. The Kraft Heinz Company (NASDAQ:KHC)
Number of Hedge Fund Holders: 39
Value of Hedge Fund Holdings: $12,265,513,000
The Kraft Heinz Company (NASDAQ:KHC) is the third biggest food and beverage company in the US.
The Kraft Heinz Company (NASDAQ:KHC) launched its own brand of plant-based meats in 2019 under the Devour brand. The Devour line includes frozen plant-based ground “beef,” burgers and chicken nuggets made from soy and wheat protein. The Kraft Heinz Company (NASDAQ:KHC) positioned Devour as a premium, lifestyle plant-based brand for mainstream consumers. The company has adopted the ‘Beanz Liberation’ strategy to promote its plant-based meat alternatives and enter into new categories related to ready-to-eat meals.
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