Americans are expected to spend over $1 billion on turkeys for this Thanksgiving on Thursday, November 24, according to new research by personal finance comparison website finder.com . With that much money going towards this holiday, several companies are bound to benefit.
One of the best ways is to look at the turkeys. Turkey is the number one dish served for Thanksgiving dinner. There are several turkey producers in the US, a few of which are owned by publicly traded companies.
Butterball is the largest, but unfortunately, you can’t invest in it because it is privately held.
The second largest is Jennie-O Turkey Store, which is owned by Hormel Foods (HRL). The stock trades at 23 times trailing earnings, 21 times forward earnings, and pays a yield of 1.6%.
Hillshire Brands is another top turkey producer, which is owned by Tyson Foods (TSN). Tyson has a trading price to earnings ratio of 14 and a forward P/E of 11. It pays out a dividend rate of 0.9%.
The Oscar Mayer division of Kraft Heinz (KHC) is also a turkey producer in the top ten. The stock trades at 37 times earnings and yields 3%.
Hopefully, your stock portfolio will provide you with a Happy Thanksgiving!!!
Disclosure: Author didn’t own any of the above at the time the article was written.