JPMorgan Chase & Co. upgraded shares of Bunge Ltd (NYSE:BG) from an underweight rating to a neutral rating in a research report report published on Thursday, May 4th. They currently have $70.00 target price on the basic materials company’s stock.
A number of other research firms also recently weighed in on BG. Zacks Investment Research downgraded shares of Bunge from a buy rating to a hold rating in a research report on Monday, January 9th. Credit Suisse Group AG set a $85.00 price objective on shares of Bunge and gave the company a buy rating in a research report on Monday, February 27th. Stephens cut shares of Bunge from an overweight rating to an equal weight rating in a research note on Wednesday, May 3rd. Finally, Goldman Sachs Group Inc cut shares of Bunge from a buy rating to a neutral rating and set a $88.00 target price on the stock. in a research note on Monday, March 20th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $76.14.
Bunge (NYSE:BG) traded up 1.17% during mid-day trading on Thursday, reaching $70.08. 410,006 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $74.89 and a 200-day moving average of $73.15. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 18.60 and a beta of 1.04. Bunge has a 12 month low of $56.69 and a 12 month high of $82.66.
Bunge (NYSE:BG) last issued its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.33. The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $8.96 billion. Bunge had a net margin of 1.58% and a return on equity of 10.38%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 earnings per share. Analysts anticipate that Bunge will post $5.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be given a $0.42 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $1.68 dividend on an annualized basis and a yield of 2.43%. Bunge’s dividend payout ratio is presently 37.75%.
In other news, insider David Kabbes sold 593 shares of Bunge stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $79.95, for a total transaction of $47,410.35. Following the completion of the sale, the insider now directly owns 5,507 shares in the company, valued at $440,284.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Soren Schroder sold 12,532 shares of Bunge stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $80.01, for a total value of $1,002,685.32. Following the completion of the sale, the chief executive officer now owns 69,140 shares of the company’s stock, valued at $5,531,891.40. The disclosure for this sale can be found here. 1.27% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. BlackRock Investment Management LLC raised its stake in shares of Bunge by 5.7% in the third quarter. BlackRock Investment Management LLC now owns 80,124 shares of the basic materials company’s stock worth $4,746,000 after buying an additional 4,321 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Bunge during the third quarter worth $1,675,000. GAM Holding AG purchased a new stake in shares of Bunge during the third quarter worth approximately $8,958,000. LSV Asset Management raised its stake in shares of Bunge by 58.1% in the third quarter. LSV Asset Management now owns 4,517,677 shares of the basic materials company’s stock worth $267,581,000 after buying an additional 1,660,645 shares in the last quarter. Finally, Lesa Sroufe & Co raised its stake in shares of Bunge by 1.6% in the third quarter. Lesa Sroufe & Co now owns 61,527 shares of the basic materials company’s stock worth $3,644,000 after buying an additional 967 shares in the last quarter. Institutional investors and hedge funds own 78.49% of the company’s stock.
Bunge Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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