Bunge Limited (BG) Cut to “Strong Sell” at Zacks Investment Research
Bunge Limited (NYSE:BG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday.
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 research analysts also recently commented on BG. Piper Jaffray Companies set a $86.00 price objective on shares of Bunge Limited and gave the company a “buy” rating in a research report on Thursday, August 3rd. Citigroup Inc. downgraded shares of Bunge Limited from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research report on Thursday, September 28th. Robert W. Baird reissued a “hold” rating and issued a $77.00 price objective on shares of Bunge Limited in a research report on Friday, October 13th. J P Morgan Chase & Co downgraded shares of Bunge Limited to a “neutral – underweight” rating and set a $70.00 price objective on the stock. in a research report on Tuesday, July 4th. Finally, TheStreet downgraded shares of Bunge Limited from a “b-” rating to a “c+” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Bunge Limited currently has a consensus rating of “Hold” and an average price target of $81.86.
Bunge Limited (BG) traded up 0.48% during trading on Friday, reaching $71.17. 701,392 shares of the company’s stock traded hands. Bunge Limited has a 12-month low of $58.49 and a 12-month high of $83.75. The company has a market cap of $10.01 billion, a PE ratio of 20.35 and a beta of 1.01. The company has a 50 day moving average price of $71.52 and a 200-day moving average price of $75.26.
Bunge Limited (NYSE:BG) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, beating the Zacks’ 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 company had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $10.88 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Bunge Limited will post $3.45 EPS for the current fiscal year.
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In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the firm’s 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 transaction, the insider now directly owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in shares of Bunge Limited by 33.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 32,356 shares of the basic materials company’s stock worth $2,248,000 after acquiring an additional 8,092 shares during the period. P.R. Herzig & Co. Inc. lifted its stake in shares of Bunge Limited by 592.5% in the 3rd quarter. P.R. Herzig & Co. Inc. now owns 20,775 shares of the basic materials company’s stock worth $1,443,000 after acquiring an additional 17,775 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Bunge Limited by 8.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 113,820 shares of the basic materials company’s stock worth $7,906,000 after acquiring an additional 8,720 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Bunge Limited by 24.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 18,635 shares of the basic materials company’s stock worth $1,294,000 after acquiring an additional 3,635 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Bunge Limited in the 3rd quarter worth $567,000. Institutional investors own 80.34% 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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