Shares of Blue Apron rose 5% in midday trading on Monday after Jana Partners revealed in a 13F filing that it owns a 2% stake in the meal-kit company, worth about $5.6 million.

The hedge fund, run by Barry Rosenstein, has previous experience in the grocery sector. Jana Partners reaped $300 million after selling its stake in Whole Foods Market when the company was acquired by Amazon.com (AMZN Quick QuoteAMZN - Free Report) this past June. 

Blue Apron has been struggling since its recent IPO. Last week, it fell to an all-time low of $5.00 per share after reporting worse-than-expected earnings. The company reported losing 47 cents per share, far below the Zacks Consensus Estimate of a loss of 30 cents per share.

However, while Jana Partners invested in Blue Apron this past quarter, the fund exited its stake in Snap (SNAP Quick QuoteSNAP - Free Report) . Snap is another stock that has been struggling after its IPO this year, suggesting that Jana Partners sees a brighter future for Blue Apron than the tech company (also read: Blue Apron vs. Snap: Which IPO Has Been Worse So Far?).

Jana Partners also disclosed a 593,097 share stake in the grocer Sprouts Farmers Market (SFM Quick QuoteSFM - Free Report) , which is worth $13.45 million. Shares of the grocer also rose in midday trading, gaining 0.5%.

APRN remains a Zacks Rank #3 (Hold), with a VGM score of ‘D.’

5 Trades Could Profit "Big-League" from Trump Policies

If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.

Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>