Agriculture Stocks List: 5 Biggest Agriculture Stocks

3. Bunge Limited (NYSE:BG)

Number of Hedge Fund Holders: 48    

Bunge Limited (NYSE:BG) operates as an agribusiness and food company worldwide. On December 14, UBS analyst Manav Gupta initiated coverage of Bunge Limited (NYSE:BG) stock and with a Buy rating and $133 price target, noting that market is primarily focused on margin compression in 2024-2025 while ignoring the $13.50-plus per share in earnings Bunge should deliver in 2022.

At the end of the third quarter of 2022, 48 hedge funds in the database of Insider Monkey held stakes worth $763 million in Bunge Limited (NYSE:BG), compared to 48 in the previous quarter worth $729 million.

In its Q1 2022 investor letter, Old West Investment Management, an asset management firm, highlighted a few stocks and Bunge Limited (NYSE:BG) was one of them. Here is what the fund said:

“Bunge (pronounced BUN-GEE) Ltd (NYSE:BG) is one of the biggest agribusinesses and food companies in the world. Four worldwide companies dominate the sector, the others being Archer-Daniels-Midland Cargill and Dreyfuss. One of our favorite ways to screen for new ideas is following insider buying. When I saw Form 4 filed by new Bunge CEO Greg Heckman, his purchase of $9 million of BG stock intrigued me. My initial thought was the company gave him the stock as a signing bonus. I contacted BG Investor Relations and asked whether it was a signing bonus or did Heckman write a check for $9 million. IR assured me it was his own hard-earned money that he invested in the company he was about to run.

Heckman was a long-time executive at Conagra Foods who sensed an opportunity at BG. One of his first moves as CEO was to move the company’s HQ from New York to St. Louis, right in the middle of America’s breadbasket. BG had been plagued for years with poor decisions by underperforming management. Heckman’s decision to move to St. Louis was indicative of a no-nonsense style and he would commence cutting expenses and selling non-core assets…read more