Sectors & Industries Consumer DefensivePackaged Foods
Best Food Stocks to Buy Now (2024)
Top food stocks in 2024 ranked by overall Zen Score. See the best food stocks to buy now, according to analyst forecasts for the packaged foods industry.

Industry: Packaged Foods

Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Zen Score	Valuation Score	Financials Score	Forecast Score	Performance Score	Dividends Score
SMPL	SIMPLY GOOD FOODS CO	56	43	100	22	60	–
BON	BON NATURAL LIFE LTD	56	71	43	78	30	–
LWAY	LIFEWAY FOODS INC	54	29	86	11	90	–
K	KELLANOVA	52	43	43	56	40	80
MAMA	MAMA's CREATIONS INC	52	29	86	22	70	–
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Food Stocks FAQ

What are the best food stocks to buy right now in May 2024?

According to Zen Score, the 3 best food stocks to buy right now are:

1. Bon Natural Life (NASDAQ:BON)

Bon Natural Life (NASDAQ:BON) is the top food stock with a Zen Score of 56, which is 27 points higher than the food industry average of 29. It passed 18 out of 33 due diligence checks and has strong fundamentals. Bon Natural Life has seen its stock lose -55.78% over the past year, underperforming other food stocks by -45 percentage points.

2. Simply Good Foods Co (NASDAQ:SMPL)

Simply Good Foods Co (NASDAQ:SMPL) is the second best food stock with a Zen Score of 56, which is 27 points higher than the food industry average of 29. It passed 18 out of 33 due diligence checks and has strong fundamentals. Simply Good Foods Co has seen its stock lose -4.34% over the past year, overperforming other food stocks by 7 percentage points.

Simply Good Foods Co has an average 1 year price target of $38.86, an upside of 1.88% from Simply Good Foods Co's current stock price of $38.14.

Simply Good Foods Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Simply Good Foods Co, 42.86% have issued a Strong Buy rating, 14.29% have issued a Buy, 42.86% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Lifeway Foods (NASDAQ:LWAY)

Lifeway Foods (NASDAQ:LWAY) is the third best food stock with a Zen Score of 54, which is 25 points higher than the food industry average of 29. It passed 18 out of 33 due diligence checks and has strong fundamentals. Lifeway Foods has seen its stock return 339.57% over the past year, overperforming other food stocks by 351 percentage points.

Lifeway Foods has an average 1 year price target of $14.00, a downside of -47.7% from Lifeway Foods's current stock price of $26.77.

Lifeway Foods stock has a consensus Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Lifeway Foods, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the food stocks with highest dividends?

Out of 18 food stocks that have issued dividends in the past year, the 3 food stocks with the highest dividend yields are:

1. B&G Foods (NYSE:BGS)

B&G Foods (NYSE:BGS) has an annual dividend yield of 8.87%, which is 5 percentage points higher than the food industry average of 3.42%. B&G Foods's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. B&G Foods's dividend has not shown consistent growth over the last 10 years.

B&G Foods's dividend payout ratio of -53.5% indicates that its high dividend yield might not be sustainable for the long-term.

2. Lifevantage (NASDAQ:LFVN)

Lifevantage (NASDAQ:LFVN) has an annual dividend yield of 7.98%, which is 5 percentage points higher than the food industry average of 3.42%.

Lifevantage's dividend payout ratio of 192.9% indicates that its high dividend yield might not be sustainable for the long-term.

3. Conagra Brands (NYSE:CAG)

Conagra Brands (NYSE:CAG) has an annual dividend yield of 4.52%, which is 1 percentage points higher than the food industry average of 3.42%. Conagra Brands's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Conagra Brands's dividend has shown consistent growth over the last 10 years.

Conagra Brands's dividend payout ratio of 69.3% indicates that its high dividend yield is sustainable for the long-term.

Why are food stocks up?

Food stocks were up 0.24% in the last day, and up 3.6% over the last week.

We couldn't find a catalyst for why food stocks are up.

What are the most undervalued food stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued food stocks right now are:

1. Natures Sunshine Products (NASDAQ:NATR)

Natures Sunshine Products (NASDAQ:NATR) is the most undervalued food stock based on WallStreetZen's Valuation Score. Natures Sunshine Products has a valuation score of 100, which is 76 points higher than the food industry average of 24. It passed 7 out of 7 valuation due diligence checks.

Natures Sunshine Products's stock has gained 44.68% in the past year. It has overperformed other stocks in the food industry by 56 percentage points.

2. Kraft Heinz Co (NASDAQ:KHC)

Kraft Heinz Co (NASDAQ:KHC) is the second most undervalued food stock based on WallStreetZen's Valuation Score. Kraft Heinz Co has a valuation score of 86, which is 62 points higher than the food industry average of 24. It passed 6 out of 7 valuation due diligence checks.

Kraft Heinz Co's stock has dropped -9.16% in the past year. It has overperformed other stocks in the food industry by 2 percentage points.

3. Darling Ingredients (NYSE:DAR)

Darling Ingredients (NYSE:DAR) is the third most undervalued food stock based on WallStreetZen's Valuation Score. Darling Ingredients has a valuation score of 71, which is 47 points higher than the food industry average of 24. It passed 5 out of 7 valuation due diligence checks.

Darling Ingredients's stock has dropped -25.84% in the past year. It has underperformed other stocks in the food industry by -15 percentage points.

Are food stocks a good buy now?

37.5% of food stocks rated by analysts are a strong buy right now. On average, analysts expect food stocks to rise by 9.08% over the next year.

What is the average p/e ratio of the packaged foods industry?

The average P/E ratio of the packaged foods industry is 23.71x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.