5 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years

1. Bunge Limited (NYSE:BG)

Number of Hedge Fund Holders: 55

Bunge Limited (NYSE:BG) was founded in 1818 and is headquartered in St. Louis, Missouri. It is an agribusiness and food company, operating through Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy segments. The company sells soybeans, rapeseed, canola, sunflower seeds, wheat, and corn. Bunge Limited (NYSE:BG) on May 12 declared a quarterly dividend of $0.625 per share, a 19% increase from its prior dividend of $0.525. The dividend is payable on September 2, to shareholders of record on August 19.  Bunge Limited (NYSE:BG)’s dividend yield on July 13 stood at 2.85%. 

On July 7, JPMorgan analyst Thomas Palmer upgraded Bunge Limited (NYSE:BG) to ‘Overweight’ from ‘Neutral’ with a price target of $106, down from $130, which shows 25% upside from present levels. The analyst said short-term optimistic catalysts could be forthcoming based on Bunge Limited (NYSE:BG)’s Q2 earnings and a rebound in agriculture trends. He observed that Bunge Limited (NYSE:BG) shares have mostly found downside support at 1.3-times price-to-book value, or $81 per share. 

According to Insider Monkey’s data, 55 hedge funds were long Bunge Limited (NYSE:BG) at the end of Q1 2022, up from 38 funds in the preceding quarter. Israel Englander’s Millennium Management is the leading shareholder of the company, with 1.65 million shares worth $183.6 million. 

Here is what Old West Investment Management had to say about Bunge Limited (NYSE:BG) in its Q1 2022 investor letter:

“Bunge (pronounced BUN-GEE) Ltd (NYSE:BG) is one of the biggest agribusinesses and food companies in the world. There are four worldwide companies that 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 the 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 actually 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 obviously sensed 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…” (Click here to see the full text)

You can also take a look at 10 Latest Stocks to Consider in the Portfolio of Nancy Pelosi and 11 Best Dividend-Paying Stocks to Buy Now. 

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