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10 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years

·9 分鐘文章

In this article, we discuss 10 plant-based food stocks to buy and hold for the next 10 years. If you want to see the top stocks on this list, check out 5 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years.

The COVID-19 pandemic pushed people to prioritize their health and move towards safer eating habits. People are increasingly switching towards organic and plant-based diets, especially Millennials and Gen Z, who allocate more of their budgets toward high quality organic and fresh foods. Customers are also mindful of sustainable agricultural practices when sourcing their food, which has created new market opportunities in the food space. 

According to Data Bridge Market Research, the global health and wellness food market will increase at a compound annual growth rate of 9.3% during the forecast period of 2022 to 2029. Similarly, Precedence Research suggests that the global organic food market is expected to reach $497.3 billion by 2030, being positioned to grow at a CAGR of 12.06% from 2022 to 2030. In 2020, 57% of all American households purchased plant-based foods, up from 53% in 2019. 

The Boston Consulting Group released a report in the first week of July which showed that the increase in the production of meat and dairy food alternatives has resulted in significantly lower greenhouse emissions. Beef, for example, emits about 6 to 30-times more emissions than tofu. Plant-based meat is considered to be one of the top investments for sustainable food sourcing and climate control. 

Investors are searching for sustainable and plant-based food stocks as the market adoption of these niches becomes more mainstream. Some of the most prominent plant-based food stocks to buy and hold for the next 10 years include Bunge Limited (NYSE:BG), General Mills, Inc. (NYSE:GIS), and Ginkgo Bioworks Holdings, Inc. (NYSE:DNA). 

10 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years
10 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years

Nejron Photo/Shutterstock.com

Our Methodology 

We selected companies that are involved in the plant-based food sector. These companies have long-term growth catalysts that will potentially benefit the stocks. In addition to that, the steady consumer movement towards plant-based and natural foods will help the industry grow and reach its peak potential over the coming years. These stocks have received positive analyst ratings and are gaining popularity among elite hedge funds. 

The hedge fund sentiment around the following equities was gauged from Insider Monkey’s database of 900+ elite hedge funds tracked as of the end of the first quarter of 2022. The list is ranked according to the number of hedge fund holders in each stock. 

Plant-Based Food Stocks to Buy and Hold for the Next 10 Years

10. Village Farms International, Inc. (NASDAQ:VFF)

 

Number of Hedge Fund Holders: 3

Village Farms International, Inc. (NASDAQ:VFF) was founded in 1989 and is headquartered in Delta, Canada. The company produces and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. Village Farms International, Inc. (NASDAQ:VFF) also sells cannabinoid-based health and wellness products. The company markets its products via retail centers and fresh food distribution companies. Village Farms International, Inc. (NASDAQ:VFF) is one of the only modern greenhouse operators to stay afloat in the Canadian markets, and it is set to generate robust revenue in the future as it penetrates the marijuana space in the country. 

On May 11, Craig-Hallum analyst Eric Des Lauriers reiterated a 'Buy' recommendation on Village Farms International, Inc. (NASDAQ:VFF) but lowered the firm's price target on the shares to $5 from $15 to account for inflation and macro valuation challenges. The analyst remains upbeat about the stock due to the solid short-term growth predicted in Canadian cannabis and the stock's discount compared to its competitors. Investment advisors Raymond James and Alliance Global Partners also maintained their bullish ratings on the stock in May. 

According to Insider Monkey’s data, 3 hedge funds were long Village Farms International, Inc. (NASDAQ:VFF) in the first quarter of 2022, with combined stakes worth $2.4 million. Israel Englander’s Millennium Management is the leading position holder in the company, with 448,227 shares worth $2.3 million. The hedge fund boosted its stake in Village Farms International, Inc. (NASDAQ:VFF) by 726% in Q1. 

In addition to Bunge Limited (NYSE:BG), General Mills, Inc. (NYSE:GIS), and Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), Village Farms International, Inc. (NASDAQ:VFF) is one of the plant-based food stocks to buy and hold for the next decade. 

9. Mission Produce, Inc. (NASDAQ:AVO)

 

Number of Hedge Fund Holders: 4

Mission Produce, Inc. (NASDAQ:AVO) is headquartered in Oxnard, California. The company produces and sells avocados in the United States and internationally. Mission Produce, Inc. (NASDAQ:AVO) serves retail, wholesale, and foodservice customers. Two of the company’s segments include Marketing and Distribution, and International Farming. 

Citi analyst Sergio Matsumoto upgraded Mission Produce, Inc. (NASDAQ:AVO) on April 7 to 'Buy' from 'Neutral' with a price target of $18, down from $20. As per the analyst, the company has a "discounted attractive valuation" after a 33% price correction over the past six months due to soaring interest rates and negative responses to market headlines. The analyst said Mission Produce, Inc. (NASDAQ:AVO)’s long-term investment outlook is largely intact with "robust demand" for avocados, which are a U.S consumer staple and have low price elasticity. 

On June 8, Mission Produce, Inc. (NASDAQ:AVO) reported that the industry is expecting Q3 volumes to increase, mainly given the continuing supply constraints in Mexico that are expected to remain in place until Q4. The third quarter supply pressure will be partially negated by increased supply from Peru and California. Mission Produce, Inc. (NASDAQ:AVO) believes that the pricing environment should begin to normalize during Q3 2022.

Among the hedge funds tracked by Insider Monkey, 4 funds were long Mission Produce, Inc. (NASDAQ:AVO) in the first quarter of 2022, up from 2 funds in the preceding quarter. Michael Gelband’s ExodusPoint Capital is the biggest shareholder of the company, with 77,165 shares worth $976,000. The hedge fund strengthened its hold on Mission Produce, Inc. (NASDAQ:AVO) by 28% in Q1. 

8. The Vita Coco Company, Inc. (NASDAQ:COCO)

 

Number of Hedge Fund Holders: 5

The Vita Coco Company, Inc. (NASDAQ:COCO) markets and sells coconut water products under the Vita Coco brand in the United States, Canada, Europe, the Middle East, and the Asia Pacific region. One of the company’s offerings is Runa, a plant-based energy drink. The natural energy drink is formulated to deliver sustained energy, clarity of mind, and enhanced focus without the side effects of typical energy boosters.

On July 5, beverage retail data heading into the Q2 earnings season showed that the soda and energy drink category displayed more robust growth than the beer and spirits categories. The non-alcoholic beverage segment is not seeing pushback from tightened consumer spending, and The Vita Coco Company, Inc. (NASDAQ:COCO) reported sales gains of 15.80% based on a four-week tracking of retail data through June 26.

BofA analyst Bryan Spillane on July 8 upgraded The Vita Coco Company, Inc. (NASDAQ:COCO) to 'Buy' from 'Neutral', raising the price target to $12 from $10. According to the analyst, with the ocean freight market displaying indications of stabilization and freight costs easing, he sees possible upside to calendar year 2023 adjusted EBITDA estimates and observed that his own forecasts are 20% above Visible Alpha consensus. He also believes the stock is positioned to perform well in the event of a recession since The Vita Coco Company, Inc. (NASDAQ:COCO) has adopted minimal pricing this year, making its product range more attractive to "price conscious" consumers, the analyst added.

According to Insider Monkey’s data, 5 hedge funds were bullish on The Vita Coco Company, Inc. (NASDAQ:COCO) at the end of Q1 2022, with combined stakes exceeding $15 million. 

7. Laird Superfood, Inc. (NYSE:LSF)

 

Number of Hedge Fund Holders: 7

Laird Superfood, Inc. (NYSE:LSF) sells plant-based natural and functional food in the United States. The company provides coffee creamers, hydration and energy supplements, prebiotic daily greens, plant-based proteins, and performance mushroom supplements. According to its FY22 guidance, Laird Superfood, Inc. (NYSE:LSF) expects revenue of $41 million to $44 million, compared to the consensus of $41.81 million. Gross margin for full year 2022 is estimated to range from 24% to 26%, versus 25.6% in 2021.

On May 13, Craig-Hallum analyst Alex Fuhrman maintained a 'Buy' rating on Laird Superfood, Inc. (NYSE:LSF) but lowered the price target on the shares to $6 from $12 after the Q1 results. The analyst is encouraged by Laird Superfood, Inc. (NYSE:LSF) reiterating its full-year guidance regardless of headwinds in the food and e-commerce sectors. He views the latest changes to Laird Superfood, Inc. (NYSE:LSF)’s free shipping policy and the upcoming launch of protein bars as positive catalysts later in 2022. 

According to Insider Monkey’s first quarter database, 7 hedge funds were long Laird Superfood, Inc. (NYSE:LSF), up from 3 funds in the earlier quarter. Phil Frohlich’s Prescott Group Capital Management held the leading position in the company, comprising 220,760 shares worth $797,000. 

6. Calavo Growers, Inc. (NASDAQ:CVGW)

 

Number of Hedge Fund Holders: 12

Calavo Growers, Inc. (NASDAQ:CVGW) sells avocados and other fresh perishable foods to grocery and foodservice customers, food distributors, and wholesale customers worldwide. The company operates in three segments – Fresh Products, Calavo Foods, and Renaissance Food Group. 

On June 3, Lake Street analyst Ben Klieve noted that Calavo Growers, Inc. (NASDAQ:CVGW)’s Q2 results outperformed estimates on both the top and bottom line and margins displayed "real indications of sustained improvement" in a quarter that he argues "represents the clearest sign yet that the restructuring efforts are paying off". He sees the quarter as "one which should make those waiting on the sideline for tangible signs of progress consider taking a position," while reiterating a 'Buy' rating and $60 price target on Calavo Growers, Inc. (NASDAQ:CVGW) shares.

According to Insider Monkey’s data, 12 hedge funds were bullish on Calavo Growers, Inc. (NASDAQ:CVGW) at the end of the first quarter of 2022, compared to 14 funds in the prior quarter. Jim Simons’ Renaissance Technologies is the biggest stakeholder of the company, with 416,600 shares valued at more than $15 million. 

In addition to Bunge Limited (NYSE:BG), General Mills, Inc. (NYSE:GIS), and Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), elite hedge funds are monitoring Calavo Growers, Inc. (NASDAQ:CVGW) as plant-based food stocks come into focus. 

 

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Disclosure: None. 10 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years is originally published on Insider Monkey.