Zacks Investment Research Upgrades Bunge Limited (BG) to Hold
Bunge Limited (NYSE:BG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, July 4th.
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. “
BG has been the subject of several other reports. Goldman Sachs Group, Inc. (The) cut shares of Bunge Limited from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a research report on Monday, March 20th. BidaskClub cut shares of Bunge Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. BMO Capital Markets restated a “buy” rating on shares of Bunge Limited in a research report on Monday, May 15th. J P Morgan Chase & Co cut shares of Bunge Limited from a “neutral” rating to an “underweight” rating and set a $70.00 price target for the company. in a research report on Thursday, April 6th. Finally, Stephens cut shares of Bunge Limited from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $84.83.
Bunge Limited (BG) traded up 0.50% during mid-day trading on Tuesday, reaching $76.34. 767,275 shares of the company’s stock were exchanged. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 21.76 and a beta of 1.02. The stock has a 50-day moving average of $77.24 and a 200-day moving average of $76.23.
Bunge Limited (NYSE:BG) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.07. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The firm had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $10.88 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Analysts anticipate that Bunge Limited will post $4.24 earnings per share for the current year.
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In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $80.00, for a total transaction of $210,880.00. Following the completion of the sale, the insider now directly owns 20,214 shares in the company, valued at $1,617,120. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
A number of large investors have recently bought and sold shares of BG. MUFG Americas Holdings Corp boosted its stake in Bunge Limited by 115.7% in the first quarter. MUFG Americas Holdings Corp now owns 1,361 shares of the basic materials company’s stock worth $108,000 after buying an additional 730 shares during the last quarter. Toronto Dominion Bank boosted its stake in Bunge Limited by 26.3% in the first quarter. Toronto Dominion Bank now owns 1,526 shares of the basic materials company’s stock worth $121,000 after buying an additional 318 shares during the last quarter. Creative Planning raised its position in Bunge Limited by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock worth $123,000 after buying an additional 822 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in Bunge Limited during the first quarter worth $160,000. Finally, Janney Montgomery Scott LLC acquired a new position in Bunge Limited during the second quarter worth $200,000. Institutional investors and hedge funds own 81.62% of the company’s stock.
About Bunge Limited
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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