Top plant-based food stocks to watch in July

Summary

• Beyond Meat Inc. (Nasdaq: BYND) stock price surged 26.35 percent YTD.
• Tattooed Chef (Nasdaq: TTCF) reported revenue of US$58.7 million in Q1, 2021, up 59% YoY.
• Ingredion Incorporated (NYSE: INGR) stock price rose 14.27% YTD and 8.57% YoY.

Plant-based food stocks are companies that produce meat and other vegan food from plants. These food items are getting popular as consumers have become aware of the negative impact of animal farming on their health and environment. Plant-based food includes almond milk substitutes for dairy milk and meat made from flour, concentrates, soybean, tofu, or lentils.

The plant-based food industry is expected to see compound growth in the future, say experts.

Here we explore stocks of five plant-based food companies in the market.

Source: Pixabay.

Beyond Meat Inc (Nasdaq: BYND)

Beyond Meat produces plant-based meat made with non-GMO and bioengineered ingredients, hormones, cholesterol, or antibiotics.

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Its stock traded at US$158.67 at 1.30 pm ET on June 30, up by 1.88 percent over the previous closing price. Its stock prices increased by 26.35 percent YTD and by 18.48 percent YoY.

Its market capitalization is US$9.9 billion. Earnings per share is -1.30. The beta ratio is 1.61. The 52 weeks highest stock price was US$221 and the lowest was US$99.86. Its share volume is 1,906,568.

It reported net revenue of US$108.2 million in Q1, 2021, which ended on April 2. It is up by 11.4 percent YoY. Gross profit was US$32.7 million or gross margin of 30.2% of the revenue. Net loss was US$27.3 million or US$0.47 per common share. Adjusted EBITDA was a loss of US$10.8 million.

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Tattooed Chef, Inc (Nasdaq: TTCF)

Tattooed Chef is a plant-based food company that offers ready-to-cook bowls, zucchini spirals, cauliflower pizza, acai, and smoothie bowls. They are available in frozen form in retail food stores.

Its stock traded at US$21.80 at 1.44 pm ET on June 30, up by 3.66 percent over the previous closing price. Its stock prices decreased by 7.35 percent YTD and increased by 32.52 percent YoY.

Its market capitalization is US$558 million. The 52 weeks highest stock price was US$28.64 and the lowest was US$12.61. Its share volume is 1,470,404. Earnings per share (EPS) are -0.73. The beta ratio is -1.7.

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It reported revenue of US$58.7 million in Q1, 2021, which ended on March 31. It was 59 percent growth over YoY’s US$33.2 million revenue. Gross profit was US$13.7 million or 26 percent gross margin in Q1, 2021. It was US$9.2 million or 28 percent gross margin YoY before. Net loss was US$7.9million as compared to US$5.9 million YoY. Adjusted EBITDA loss was US$3 million, as compared to that of US$7 million the year before.

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Ingredion Incorporated (NYSE: INGR)

Ingredion Incorporated turns fruits, grains, vegetables, and other plant material into value-added ingredient solutions for beverages, food, animal food, and the industrial market. 

Its stock traded at US$90.11 at 2.03 pm ET on June 30, up by 0.13 percent over the previous closing price. Its stock prices increased by 14.27 percent YTD and increased by 8.57 percent YoY.

Source: Pixabay.

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Its market capitalization is US$6 billion. The 52 weeks highest stock price was US$98.05 and the lowest was US$68.71. Its share volume is 406,359. Earnings per share (EPS) are 0.38. The beta ratio is 0.82. annualized dividend is US$2.56. The P/E ratio is 236.84. The company reported adjusted earnings per share of US$1.59 in Q1, 2021, which ended on March 31.

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Laird Superfood, Inc. (AMEX: LSF)

Laird Superfood manufacturers plan-based functional and natural food. It offers hydrate coconut water products, renew plant-based proteins, liquid coffee creamer, coffee, tea, hot chocolate, hydration, and beverage enhancing supplements, among others.

Its stock traded at US$30.095 at 2.18 pm ET on June 30, up by 3.28 percent over the previous closing price. Its stock prices decreased by 32.38 percent YTD.

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Its market capitalization is US$270 million. The 52 weeks highest stock price was US$60.80 and the lowest was US$27.21. Its share volume is 28,160. The beta ratio is 0.7. annualized dividend is US$2.56. The forward P/E 1-year ratio is -15.18.

It reported net sales of US$7.4 million in Q1, 2021, which ended on March 31 and that is up by 35 percent YoY. Gross profit was US$1.9 million and gross margin was 25.1 percent as compared to US$2.1 million and 38.6 percent YoY. Net loss was US$5.3 million or US$0.60 per diluted share compared to US$2 million or US$0.47 per diluted share.

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SunOpta Inc (Nasdaq: STKL)

SunOpta manufacturers fruit-based and plant-based food products.

Its stock traded at US$12.205 at 2.29 pm ET on June 30, up by 0.04 percent over the previous closing price. Its stock prices increased by 9.07 percent YTD and increased by 163.60 percent YoY.

Its market capitalization is US$6 billion. The 52 weeks highest stock price was US$17.07 and the lowest was US$4.38. Its share volume is 228.210. Earnings per share (EPS) are US$0.73. The beta ratio is 2.04. annualized dividend is US$2.56. The P/E ratio is 16.73.

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It reported revenue of US$119.5 million in Q1, 2021 ended on April 3, up by 12.4 percent YoY. Earnings from continuing operations were US$1.7 million as compared to a US$4.0 million loss in the previous year. Adjusted EBITDA increased US$18.3 million, up by  33.5 percent YoY.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.