5 Wheat Stocks to Buy Now

2. Bunge Limited (NYSE:BG)

Number of Hedge Fund Holders: 38

Bunge Limited (NYSE:BG) was founded in 1818 and is headquartered in St. Louis, Missouri, operating as an agribusiness and food company worldwide. The company sells agricultural commodities such as wheat, corn, soybeans, rapeseed, canola, and sunflower seeds. 

On March 14, Barclays analyst Benjamin Theurer raised his price target on Bunge Limited (NYSE:BG) to $120 from $110 and kept an ‘Overweight’ rating on the shares. The analyst expects “another solid year” for Bunge Limited (NYSE:BG) after the company posted its 2022 guidance, predicting earnings per share of at least $9.50. 

Bunge Limited (NYSE:BG) declared a $0.525 per share quarterly dividend on February 24, in line with previous. The dividend is payable on June 2, for shareholders of record on May 19. 

Bunge Limited (NYSE:BG), a defensive food crisis play, has gained 36% in the last six months. In the fourth quarter of 2021, 38 hedge funds were bullish on Bunge Limited (NYSE:BG), compared to 37 funds in the earlier quarter. Candlestick Capital Management owns the biggest position in Bunge Limited (NYSE:BG) among that group of funds, with more than 1 million shares worth $95.6 million.