Bunge (NYSE:BG) Hits New 1-Year High at $83.90


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Bunge Limited (NYSE:BG) shares reached a new 52-week high on Thursday . The company traded as high as $83.90 and last traded at $83.71, with a volume of 10520 shares traded. The stock had previously closed at $82.80.

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Bunge from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. TheStreet raised shares of Bunge from a “c+” rating to a “b” rating in a research report on Wednesday, February 10th. Bank of America began coverage on shares of Bunge in a research report on Wednesday. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, Credit Suisse Group upped their price objective on shares of Bunge from $72.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $71.63.

The stock’s 50-day moving average price is $79.34 and its two-hundred day moving average price is $67.82. The stock has a market capitalization of $11.76 billion, a P/E ratio of 24.49 and a beta of 0.76. The company has a current ratio of 1.51, a quick ratio of 0.79 and a debt-to-equity ratio of 0.93.

Bunge (NYSE:BG) last released its earnings results on Tuesday, February 9th. The basic materials company reported $3.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $1.23. Bunge had a net margin of 1.34% and a return on equity of 19.81%. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.92 billion. During the same period in the prior year, the firm earned $1.27 EPS. The company’s revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts predict that Bunge Limited will post 6.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 2nd. Stockholders of record on Wednesday, May 19th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Tuesday, May 18th. Bunge’s dividend payout ratio is currently 43.67%.

In related news, Director Paul J. Fribourg sold 223,676 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $81.10, for a total value of $18,140,123.60. Following the completion of the transaction, the director now directly owns 7,723 shares of the company’s stock, valued at approximately $626,335.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christos Dimopoulos sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $81.48, for a total transaction of $162,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 283,331 shares of company stock valued at $22,743,707 over the last three months. Insiders own 3.67% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd lifted its stake in Bunge by 18.7% in the 4th quarter. IFM Investors Pty Ltd now owns 14,829 shares of the basic materials company’s stock worth $972,000 after purchasing an additional 2,334 shares in the last quarter. Dubuque Bank & Trust purchased a new stake in Bunge in the 4th quarter worth approximately $219,000. Brandywine Global Investment Management LLC lifted its stake in Bunge by 103.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 133,485 shares of the basic materials company’s stock worth $8,754,000 after purchasing an additional 67,888 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Bunge during the 4th quarter valued at $686,000. Finally, Sei Investments Co. raised its position in shares of Bunge by 59.1% during the 4th quarter. Sei Investments Co. now owns 395,234 shares of the basic materials company’s stock valued at $25,918,000 after buying an additional 146,749 shares in the last quarter. 77.44% of the stock is owned by institutional investors.

Bunge Company Profile (NYSE:BG)

Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Fertilizer, and Sugar and Bioenergy. 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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