The 3 Best Vegan Stocks to Buy in April 2024


  • Do good and profit with the best vegan stocks to buy in April.
  • Kroger (KR): Kroger has a captive audience to sell its plant-based products.
  • Calavo Growers (CVGW): Calavo Growers’ fresh vegetable specialty should enjoy much relevance.
  • Oatly (OTLY): Oatly presents high risks but it could also fly under the right circumstances.
Best Vegan Stocks to Buy in April - The 3 Best Vegan Stocks to Buy in April 2024

Source: Nina Firsova /

A generation ago, we probably wouldn’t be having this conversation about the best vegan stocks to buy in April. That’s because back in the day, masculinity was tied to eating red meat. Now, circumstances have changed – and changed quite dramatically.

You might not agree with the shifting social tides and that’s okay. This narrative isn’t about forcing you to integrate novel concepts into your daily life. However, you should at least know about it. Undergirding the framework for the best vegan stocks to buy in April is demographic reality.

According to one statistic, 79% of the Generation Z population choose to go meatless one day a week. Further, 65% state they want a more plant-forward diet. In other words, companies miss out on revenue generation when they don’t acknowledge social shifts. In the same vein, you don’t want to miss out on upside opportunities. Here are (arguably) the best vegan stocks to buy in April.

Kroger (KR)

Kroger (KR) Supermarket. The Kroger Co. is One of the World's Largest Grocery Retailers.
Source: Eric Glenn /

While not a pure-play example for best vegan stocks to buy in April, Kroger (NYSE:KR) nevertheless should be on your radar. Basically, while vegan-centric ideas are becoming increasingly relevant, they’re also risky. With Kroger, you’re dealing with an established grocery store business. People need to eat and get other essential products, arguably making KR stock a no-brainer.

As for the vegan angle, Kroger offers its Simple Truth in-store brand. This unit focuses on organic and natural products, including plant-based meat products. I tried it myself and I must say that for a “fake” product, it’s not bad at all. Indeed, I’d say I was impressed at the replication. Further, because people shop at Kroger anyways, the company effectively enjoys a captive audience.

Looking ahead, I understand that analysts anticipate both earnings and sales growth declines in the current fiscal year (2025). Nevertheless, because of the everyday relevancies, I’m thinking that the high-side revenue estimate of $152.74 billion is well within the realm of possibility. As a result, I believe it’s one of the best vegan stocks to buy in April.

Calavo Growers (CVGW)

Calavo Growers branded Mexican avocados in a supermarket in New York
Source: rblfmr /

Operating under the food distribution category of the consumer defensive industry, Calavo Growers (NASDAQ:CVGW) markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors and wholesale customers worldwide. It focuses on freshly procured vegetables. The company is known for its avocado procurement business.

With more and more young people choosing to go green with their diet, Calavo could be an intriguing idea for investors. Still, one has to be willing to accept volatility risks. Since the start of the year, CVGW stock fell nearly 14%. Moreover, its financial performance isn’t the most encouraging. Aside from a strong showing in the second quarter, Calavo fell well short of bottom-line targets.

For fiscal 2024, analysts see earnings per share of $1.05. That’s a paradigm shift from a loss of 1 cent a year earlier. However, projected sales of $587.66 million is down almost 40%.

Still, what makes CVGW one of the best vegan stocks to buy in April is the analyst support. With a moderate buy view and a $35.50 price target, Calavo could be enticing.

Oatly (OTLY)

otly stock Rolled oats or oat flakes in bowl with wooden spoons
Source: Vladislav Noseek /

Although a risky idea for its small-capitalization profile, Oatly (NASDAQ:OTLY) provides a range of plant-based dairy products made from oats. Per its public profile, the company offers Barista edition oat milk, “oatgurts,” frozen desserts, ice creams and yogurts. In addition, it offers cooking products, such as whipping cream and vanilla custards.

Since the beginning of the year, OTLY stock incurred a loss of more than 12%. Over the past 52 weeks, it’s down nearly 54%. That’s something you need to keep in mind. Nevertheless, for extreme speculators, OTLY could rank among the best vegan stocks to buy in April in part because the volatility appears to have slowed.

Another factor is that it occasionally throw some big surprises. For example, in Q3 last year, the company posted EPS of 7 cents. However, the expected print was a loss of 12 cents. For fiscal 2024, analysts anticipate revenue to land at $831.26 million, up 6.1% from last year’s tally of $783.35 million. Moreover, they see sales flying up to $906.29 million in the following year.

Finally, experts believe OTLY could rise to $2.08, implying almost 93% upside potential.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

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