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. “
A number of other equities analysts also recently commented on BG. Morgan Stanley reaffirmed a neutral rating on shares of Bunge in a report on Thursday, June 16th. BB&T Corp. started coverage on shares of Bunge in a report on Tuesday, July 12th. They set a buy rating and a $75.00 price objective for the company. BMO Capital Markets reaffirmed an outperform rating and set a $72.00 price objective on shares of Bunge in a report on Monday, August 1st. Finally, Bank of America Corp. raised shares of Bunge from a neutral rating to a buy rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $73.13.
Bunge (NYSE:BG) opened at 60.94 on Monday. Bunge has a 12-month low of $46.08 and a 12-month high of $79.87. The company has a market capitalization of $8.50 billion, a PE ratio of 11.74 and a beta of 0.95. The stock has a 50 day moving average of $61.76 and a 200 day moving average of $61.31.
Bunge (NYSE:BG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.41. The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.08 billion. Bunge had a net margin of 1.90% and a return on equity of 12.02%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. On average, equities research analysts predict 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 issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, November 16th. Bunge’s dividend payout ratio is currently 32.43%.
A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in shares of Bunge by 218.7% in the second quarter. First Trust Advisors LP now owns 1,881,016 shares of the company’s stock worth $111,262,000 after buying an additional 1,290,811 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Bunge during the first quarter worth $57,203,000. FMR LLC increased its position in shares of Bunge by 28.9% in the second quarter. FMR LLC now owns 3,076,046 shares of the company’s stock worth $181,948,000 after buying an additional 690,006 shares in the last quarter. AXA increased its position in shares of Bunge by 2,244.1% in the first quarter. AXA now owns 632,900 shares of the company’s stock worth $35,866,000 after buying an additional 605,900 shares in the last quarter. Finally, Carlson Capital L P increased its position in shares of Bunge by 18.6% in the second quarter. Carlson Capital L P now owns 3,100,200 shares of the company’s stock worth $183,377,000 after buying an additional 486,000 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.
Bunge Company Profile
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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