9 top packaged food stocks to buy in 2024

The best packaged food stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

9 popular packaged food stocks picks to buy in 2024

We round up a selection of stocks in or related to the convenience food industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

1. Beyond Meat (BYND)
2. Campbell Soup Company (CPB)
3. General Mills (GIS)
4. ConAgra Foods (CAG)
5. Hormel Foods Corporation (HRL)
6. Kraft Heinz (KHC)
7. Kellanova (K)
8. PepsiCo (PEP)
9. Nestle SA ADR (NSRGY)

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The packaged food stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering packaged food stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

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How to invest in packaged food stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like BYND or CPB.
5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into packaged food stocks

If you're interested in investing in the convenience food industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

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1. Beyond Meat (BYND)

Beyond Meat, Inc. , a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry.

Beyond Meat stock opened the day at $6.00 after a previous close of $6.06. The latest price was $6.36 (25-minute delay). Beyond Meat is listed on the NASDAQ, has a trailing 12-month revenue of around USD343.4 million and employs 686 staff.

• Market capitalization: $392,960,096
• PEG ratio: 5.7516

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2. Campbell Soup Company (CPB)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

Campbell Soup Company stock opened the day at $45.75 after a previous close of $45.54. The latest price was $45.35 (25-minute delay). Campbell Soup Company is listed on the NYSE, has a trailing 12-month revenue of around USD$9.3 billion and employs 14,500 staff.

• Market capitalization: $13,030,082,560
• P/E ratio: 17.1412
• PEG ratio: 1.3305

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3. General Mills (GIS)

General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice.

General Mills stock opened the day at $71.86 after a previous close of $71.61. The latest price was $71.23 (25-minute delay). General Mills is listed on the NYSE, has a trailing 12-month revenue of around USD$20.2 billion and employs 34,000 staff.

• Market capitalization: $39,004,688,384
• P/E ratio: 15.8463
• PEG ratio: 1.9845

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4. ConAgra Foods (CAG)

Conagra Brands, Inc. , together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments.

ConAgra Foods stock opened the day at $31.48 after a previous close of $31.57. The latest price was $31.20 (25-minute delay). ConAgra Foods is listed on the NYSE, has a trailing 12-month revenue of around USD$12.1 billion and employs 18,600 staff.

• Market capitalization: $15,092,449,280
• P/E ratio: 15.8643
• PEG ratio: 0.7186

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5. Hormel Foods Corporation (HRL)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

Hormel Foods Corporation stock opened the day at $35.67 after a previous close of $35.60. The latest price was $35.30 (25-minute delay). Hormel Foods Corporation is listed on the NYSE, has a trailing 12-month revenue of around USD$12.1 billion and employs 20,000 staff.

• Market capitalization: $19,497,691,136
• P/E ratio: 24.5517
• PEG ratio: 2.9597

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6. Kraft Heinz (KHC)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands. It sells its products through its own sales organizations, as well as through independent brokers, agents, and distributors to chain, wholesale, cooperative, and independent grocery accounts; convenience, value, and club stores; pharmacies and drug stores; mass merchants; foodservice distributors; institutions, including hotels, restaurants, bakeries, hospitals, health care facilities, and government agencies; and online through various e-commerce platforms and retailers.

Kraft Heinz stock opened the day at $38.77 after a previous close of $38.57. The latest price was $38.29 (25-minute delay). Kraft Heinz is listed on the NASDAQ, has a trailing 12-month revenue of around USD$26.6 billion and employs 36,000 staff.

• Market capitalization: $45,112,401,920
• P/E ratio: 16.0649
• PEG ratio: 1.0161

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7. Kellanova (K)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles. The company offers its products under the Kellogg's, Cheez-It, Pringles, Austin, Parati, RXBAR, Eggo, Morningstar Farms, Bisco, Club, Luxe, Minueto, Special K, Toasteds, Town House, Zesta, Zoo Cartoon, Choco Krispis, Crunchy Nut, Kashi, Nutri-Grain, Squares, Zucaritas, Rice Krispies Treats, Sucrilhos, Pop-Tarts, K-Time, Sunibrite, Split Stix, LCMs, Coco Pops, Krave, Frosties, Rice Krispies Squares, Incogmeato, Veggitizers, Gardenburger, Trink, Carr's, Kellogg's Extra, Müsli, Fruit "n Fibre, Kellogg's Crunchy Nut, Country Store, Smacks, Honey Bsss, Zimmy's, Toppas, Tresor, Froot Ring, Chocos, Chex, Guardian, Just Right, Sultana Bran, Rice Bubbles, Sustain, and Choco Krispies brand names.

Kellanova stock opened the day at $58.97 after a previous close of $58.75. The latest price was $58.54 (25-minute delay). Kellanova is listed on the NYSE, has a trailing 12-month revenue of around USD$13.1 billion and employs 23,000 staff.

• Market capitalization: $20,078,342,144
• P/E ratio: 26.1111
• PEG ratio: 2.9334

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8. PepsiCo (PEP)

PepsiCo, Inc. engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.

PepsiCo stock opened the day at $178.28 after a previous close of $177.41. The latest price was $176.05 (25-minute delay). PepsiCo is listed on the NASDAQ, has a trailing 12-month revenue of around USD$91.9 billion and employs 318,000 staff.

• Market capitalization: $243,901,497,344
• P/E ratio: 26.7184
• PEG ratio: 2.7835

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9. Nestle SA ADR (NSRGY)

Nestlé S. A. , together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments.

Nestle SA ADR stock opened the day at $99.08 after a previous close of $103.03. The latest price was $101.42 (25-minute delay). Nestle SA ADR is listed on the PINK, has a trailing 12-month revenue of around USD$93.4 billion and employs 270,000 staff.

• Market capitalization: $268,365,021,184
• P/E ratio: 21.972
• PEG ratio: 2.331

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Bottom line

While it’s possible to turn a profit investing in packaged food stocks, keep in mind that — like any investment — packaged food stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the convenience food industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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