5 Best Sugar Stocks to Buy Now

2. Bunge Limited (NYSE: BG)

Number of Hedge Fund Holders: 40

Bunge Limited (NYSE: BG) is an American agribusiness and food company that is involved in food processing, grain trading, and fertilizers. In 2019, the company formed an agreement with a British oil and gas company, BP p.l.c (NYSE: BP) to produce low carbon ethanol and sugar. The joint venture, BP Bunge Bioenergia, has an annual crushing capacity of 32 million tons of sugarcane. It stands second on our list of the best sugar stocks to buy now.

In Q2 2021, Bunge Limited (NYSE: BG) posted an EPS of $2.61, beating the consensus by $0.99. The consolidated revenue stood at $15.3 billion, up 62.7% from the prior-year quarter. The sugar and bioenergy segment accounted for $68 million of the gross revenue. On August 5, Bunge Limited (NYSE: BG) declared a quarterly dividend of $0.525 per share. In May, Morgan Stanley lifted its price target on Bunge Limited (NYSE: BG) to $92, with an ‘Equal Weight’ rating on the shares.

As of Q2 2021, 40 hedge funds tracked by Insider Monkey have positions in Bunge Limited (NYSE: BG), worth $399.2 million.