Bunge Ltd (NYSE:BG) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Tuesday, August 20th will be paid a dividend of 0.50 per share by the basic materials company on Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 3.85%.
Bunge has increased its dividend payment by an average of 10.1% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. Bunge has a payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bunge to earn $3.46 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 57.8%.
Shares of NYSE BG opened at $51.90 on Thursday. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 19.08 and a beta of 0.91. The company has a quick ratio of 0.66, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Bunge has a fifty-two week low of $47.26 and a fifty-two week high of $73.13.
BG has been the subject of several analyst reports. ValuEngine cut Bunge from a “hold” rating to a “sell” rating in a report on Monday, February 4th. JPMorgan Chase & Co. began coverage on Bunge in a report on Thursday, March 28th. They set a “neutral” rating and a $67.00 price target for the company. Credit Suisse Group set a $70.00 price target on Bunge and gave the stock an “outperform” rating in a report on Wednesday, January 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Bunge in a report on Friday, February 22nd. Finally, Morgan Stanley lowered their price target on Bunge from $84.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $73.33.
In other news, CEO Gregory A. Heckman acquired 38,588 shares of Bunge stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $51.93 per share, for a total transaction of $2,003,874.84. Following the transaction, the chief executive officer now directly owns 55,054 shares of the company’s stock, valued at approximately $2,858,954.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Zachman acquired 10,000 shares of Bunge stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average price of $51.28 per share, for a total transaction of $512,800.00. Following the transaction, the insider now directly owns 24,611 shares in the company, valued at $1,262,052.08. The disclosure for this purchase can be found here. 3.18% of the stock is currently owned by insiders.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates in five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains primarily wheat and corn; and vegetable oils and protein meals.
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