Bunge Ltd. (BG) Lowered to “Sell” at Zacks Investment Research
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 issued reports on the stock. Bank of America Corp. upgraded shares of Bunge from a neutral rating to a buy rating in a report on Tuesday, August 2nd. BMO Capital Markets reiterated an outperform rating and issued a $72.00 price target on shares of Bunge in a report on Monday, August 1st. BB&T Corp. began coverage on shares of Bunge in a report on Tuesday, July 12th. They issued a buy rating and a $75.00 price target for the company. Finally, Morgan Stanley reiterated a neutral rating on shares of Bunge in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $73.13.
Bunge (NYSE:BG) opened at 59.00 on Monday. Bunge has a 12-month low of $46.08 and a 12-month high of $79.87. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 11.36 and a beta of 0.95. The firm has a 50-day moving average of $62.04 and a 200 day moving average of $61.28.
Bunge (NYSE:BG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.41. The business earned $10.50 billion during the quarter, compared to the consensus estimate of $10.08 billion. Bunge had a net margin of 1.90% and a return on equity of 12.02%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. On average, equities analysts predict that Bunge will post $5.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.68 dividend on an annualized basis and a yield of 2.83%. Bunge’s dividend payout ratio (DPR) is 32.43%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Agricole S A boosted its position in shares of Bunge by 8.6% in the first quarter. Credit Agricole S A now owns 290,294 shares of the company’s stock worth $16,451,000 after buying an additional 23,013 shares during the period. Alpine Partners VI LLC boosted its position in shares of Bunge by 161.8% in the first quarter. Alpine Partners VI LLC now owns 38,048 shares of the company’s stock worth $2,156,000 after buying an additional 23,517 shares during the period. Aviva PLC boosted its position in shares of Bunge by 0.9% in the first quarter. Aviva PLC now owns 71,433 shares of the company’s stock worth $4,048,000 after buying an additional 619 shares during the period. Investec Asset Management LTD boosted its position in shares of Bunge by 20.9% in the first quarter. Investec Asset Management LTD now owns 61,672 shares of the company’s stock worth $3,495,000 after buying an additional 10,663 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of Bunge during the first quarter worth $3,525,000. 78.72% of the stock is currently 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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