Invest in food and drink stocks: A list of food and drink stocks to buy in 2024

The best food and drink 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.

5 popular food and drink stocks picks to buy in 2024

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

1. The Coca-Cola Company (KO)
2. Molson Coors Brewing Co Class B (TAP)
3. Hershey (HSY)
4. General Mills (GIS)
5. Kroger Company (KR)

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Take a deeper dive into food and drink stocks

If you're interested in investing in the food and drink 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. The Coca-Cola Company (KO)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

The Coca-Cola Company stock opened the day at $60.53 after a previous close of $60.55. The latest price was $60.65 (25-minute delay). The Coca-Cola Company is listed on the NYSE, has a trailing 12-month revenue of around USD45.8 billion and employs 79,100 staff.

• Market capitalization: $250,652,590,080
• P/E ratio: 23.5061
• PEG ratio: 2.9336

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2. Molson Coors Brewing Co Class B (TAP)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Five Trail, Hop Valley brands, Leinenkugel's, Madri, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.

Molson Coors Brewing Co Class B stock opened the day at $63.93 after a previous close of $64.52. The latest price was $64.17 (25-minute delay). Molson Coors Brewing Co Class B is listed on the NYSE, has a trailing 12-month revenue of around USD$11.7 billion and employs 16,500 staff.

• Market capitalization: $13,635,644,416
• P/E ratio: 14.6979
• PEG ratio: 3.3286

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3. Hershey (HSY)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

Hershey stock opened the day at $185.83 after a previous close of $186.33. The latest price was $187.12 (25-minute delay). Hershey is listed on the NYSE, has a trailing 12-month revenue of around USD$11.2 billion and employs 18,650 staff.

• Market capitalization: $37,750,632,448
• P/E ratio: 20.404
• PEG ratio: 3.5878

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4. 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 $71.07 after a previous close of $71.17. The latest price was $70.82 (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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5. Kroger Company (KR)

The Kroger Co. operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses.

Kroger Company stock opened the day at $57.08 after a previous close of $56.93. The latest price was $55.63 (25-minute delay). Kroger Company is listed on the NYSE, has a trailing 12-month revenue of around USD$150 billion and employs 414,000 staff.

• Market capitalization: $40,104,202,240
• P/E ratio: 18.7737
• PEG ratio: 1.3483

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How to invest in food and drink stocks

1. Choose a stock trading platform. If you don't already have a stock trading account, go straight to the best stock trading apps of 2024 and choose one.
2. Go through the sign up process. Sign up for an account by providing your personal information.
3. Set up a funding method. Once you are all set up for transactions, you can 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 KO or TAP.
5. Place your order. Buy the stock. It's that simple.

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Bottom line

While it’s possible to turn a profit investing in food and drink stocks, keep in mind that — like any investment — food and drink stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the food and drink 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.

A to Z list of food and drink stocks