According to Zacks, “Bunge Ltd. is an integrated global agribusiness and food company spanning the farm-to-consumer food chain. Bunge processes, produces, moves, distributes and markets food on five continents. “
Several other analysts also recently issued reports on the company. Bank of America Corp. upgraded Bunge from a neutral rating to a buy rating in a report on Tuesday, August 2nd. BMO Capital Markets restated an outperform rating and set a $72.00 price objective on shares of Bunge in a report on Monday, August 1st. Morgan Stanley restated a neutral rating on shares of Bunge in a report on Thursday, June 16th. Finally, BB&T Corp. initiated coverage on Bunge in a report on Tuesday, July 12th. They set a buy rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Bunge has an average rating of Buy and a consensus price target of $73.13.
Bunge (NYSE:BG) opened at 59.00 on Monday. The firm’s 50-day moving average is $62.04 and its 200-day moving average is $61.28. The firm has a market capitalization of $8.23 billion, a PE ratio of 11.36 and a beta of 0.95. Bunge has a 12 month low of $46.08 and a 12 month high of $79.87.
Bunge (NYSE:BG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.41. The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.08 billion. Bunge had a return on equity of 12.02% and a net margin of 1.90%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, equities research analysts expect that Bunge will post $5.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.83%. Bunge’s payout ratio is 32.43%.
Several large investors have recently made changes to their positions in BG. Icon Advisers Inc. Co. boosted its stake in shares of Bunge by 64.9% in the first quarter. Icon Advisers Inc. Co. now owns 9,400 shares of the company’s stock valued at $533,000 after buying an additional 3,700 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Bunge during the first quarter valued at approximately $380,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Bunge by 52.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 113,149 shares of the company’s stock valued at $6,412,000 after buying an additional 38,709 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Bunge by 0.8% in the first quarter. Franklin Resources Inc. now owns 6,058,832 shares of the company’s stock valued at $343,355,000 after buying an additional 47,612 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Bunge by 4.3% in the first quarter. BlackRock Group LTD now owns 1,299,238 shares of the company’s stock valued at $73,629,000 after buying an additional 53,794 shares during the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The Edible oil products and milling products segments include businesses that produce and sell edible oil based products, including vegetable oils, shortenings, margarines and mayonnaise, and milled grain products, such as wheat flours, corn-based products and rice.
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