The Best Canadian Food Stocks in November 2023

Are you looking for some tasty stocks to consider? There’s no shortage of great food stocks to add to your portfolio. Here are some of the best Canadian food stocks to buy this month.

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Is your portfolio diversified? An overlooked addition to any portfolio is what I like to call “everyday stocks.” These are stocks that we interact with frequently but often overlook as an investment. And making that list are some of the best Canadian food stocks.

Here’s a look at some of the best Canadian food stocks to consider buying right now.

This really is the catch of the day

High Liner Foods (TSX:HLF) makes and distributes frozen seafood products right across North America. The company is also one of the largest frozen seafood suppliers on the continent. For investors looking for some of the best Canadian food stocks to buy, it’s hard not to look at what High Liner offers.

Let’s start with High Liner’s brand mix. Apart from its namesake, the company flies various banners, including Fisher Boy, Mirabel, Sea Cuisine, and Catch of the Day.

High Liner also operates a massive food service segment, which provides a steady supply to marketplaces, and a variety of dining establishments. That also includes High Liner’s growing private label operation.

In other words, High Liner is one of the largest seafood providers on the continent with a well-diversified operation. But that’s not all.

High Liner also provides investors with a tasty quarterly dividend. As of the time of writing, the stock offers a yield of 4.95%. Part of the reason for that high yield is because High Liner, like much of the market, is down just shy of 20% over the trailing 12-month period.

This makes it an intriguing time to pick up one of the best Canadian Food stocks at a decent discount as part of a long-term portfolio.

This is the premium brand holding to consider

Premium Brands Holdings (TSX:PBH) is another one of the best Canadian food stocks to consider buying right now. PBH owns a dizzying array of over two dozen brands that includes both food manufacturing and distribution segments.

The company’s operations serve markets in Canada and the U.S., which further enhances its very diversified feel.

In terms of results, PBH isn’t due to report on the third fiscal for a few more weeks. Until then, we can look back to the results from the second quarter. In that period, PBH reported record revenue of $1.63 billion, reflecting a $110 million increase over the prior period.

Those gains are also reflected in the stock price. As of the time of writing, PBH is up over 12%, making it one of the few companies well into the black this year.

PBH also provides investors with a juicy quarterly dividend which currently carries a respectable 3.42% yield. And that fact alone makes PBH an intriguing option to consider, and one of the best Canadian food stocks to consider right now

The best Canadian food stocks to add to your portfolio

No investment is without risk, including the two food stocks mentioned above. Fortunately, what they do provide investors with is a diversified option for any portfolio that also boasts some defensive appeal. In my opinion, one or both stocks would do well as a small part of any well-diversified portfolio.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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