Bunge Limited (NYSE:BG – Get Rating) has been given a consensus recommendation of "Buy" by the nine ratings firms that are covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $126.57.
Several brokerages have weighed in on BG. Bank of America dropped their price objective on Bunge from $138.00 to $130.00 and set a "buy" rating for the company in a report on Monday, October 24th. StockNews.com upgraded shares of Bunge from a "hold" rating to a "buy" rating in a report on Thursday, October 27th. UBS Group assumed coverage on shares of Bunge in a report on Tuesday, December 13th. They set a "buy" rating and a $133.00 target price for the company. Finally, TheStreet upgraded Bunge from a "c+" rating to a "b" rating in a research report on Wednesday, October 26th.
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Bunge Stock Down 0.1 %
Shares of NYSE:BG opened at $100.42 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 0.32. The firm has a market cap of $15.04 billion, a P/E ratio of 10.22 and a beta of 0.72. Bunge has a 12 month low of $80.41 and a 12 month high of $128.40. The company's 50-day moving average price is $98.74 and its two-hundred day moving average price is $94.79.
Bunge (NYSE:BG – Get Rating) last announced its earnings results on Wednesday, October 26th. The basic materials company reported $3.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $1.01. The company had revenue of $16.76 billion for the quarter, compared to analyst estimates of $15.73 billion. Bunge had a net
margin of 2.22% and a return on equity of 25.11%. Bunge's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.72 earnings per share. As a group, research analysts forecast that Bunge will post 13.89 EPS for the current fiscal year.
Bunge Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Thursday, February 16th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, February 15th. Bunge's payout ratio is presently 25.43%.
Insiders Place Their Bets
In other Bunge news, insider Julio Garros sold 1,017 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $103.90, for a total value of $105,666.30. Following the completion of the sale, the insider now directly owns 53,780 shares in the company, valued at $5,587,742. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company's stock.
Institutional Investors Weigh In On Bunge
Several institutional investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp raised its stake in Bunge by 4.4% in the third quarter. Sigma Planning Corp now owns 2,620 shares of the basic materials company's stock valued at $216,000 after buying an additional 110 shares during the period. M&T Bank Corp boosted its position in Bunge by 2.0% during the third quarter. M&T Bank Corp now owns 5,943 shares of the basic materials company's stock worth $491,000 after purchasing an additional 114 shares during the period. Royal Harbor Partners LLC increased its holdings in shares of Bunge by 0.8% in the second quarter. Royal Harbor Partners LLC now owns 15,905 shares of the basic materials company's stock valued at $1,442,000 after purchasing an additional 119 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Bunge by 2.6% in the third quarter. Synovus Financial Corp now owns 4,687 shares of the basic materials company's stock valued at $381,000 after purchasing an additional 119 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Bunge by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 8,413 shares of the basic materials company's stock valued at $839,000 after purchasing an additional 124 shares during the period. 82.62% of the stock is owned by institutional investors.
About Bunge
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Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, 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 processes oilseeds into vegetable oils and protein meals.
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