Bunge Limited (NYSE:BG) reached a new 52-week high on Thursday . The company traded as high as $99.62 and last traded at $98.57, with a volume of 1250202 shares traded. The stock had previously closed at $97.76.
A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Bunge from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets increased their price target on Bunge from $98.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Zacks Investment Research raised Bunge from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Friday, October 22nd. Barclays increased their price target on Bunge from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 28th. Finally, JPMorgan Chase & Co. initiated coverage on Bunge in a research note on Wednesday. They set a “hold” rating and a $94.00 price target for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $98.22.
The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 0.87. The business has a 50-day simple moving average of $91.71 and a 200-day simple moving average of $84.13. The firm has a market capitalization of $13.87 billion, a PE ratio of 6.20, a P/E/G ratio of 1.56 and a beta of 0.65.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 2nd. Shareholders of record on Wednesday, February 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Tuesday, February 15th. This represents a $2.10 annualized dividend and a yield of 2.13%. Bunge’s payout ratio is currently 13.20%.
In other Bunge news, EVP Deborah Borg sold 769 shares of the firm’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $88.59, for a total transaction of $68,125.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 36,224 shares of company stock worth $3,198,682 over the last 90 days. 3.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Kehrs Ridge Capital LLC boosted its position in shares of Bunge by 87.5% in the 3rd quarter. Kehrs Ridge Capital LLC now owns 150,000 shares of the basic materials company’s stock worth $12,198,000 after purchasing an additional 70,000 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Bunge by 17.9% in the 2nd quarter. Private Advisor Group LLC now owns 17,943 shares of the basic materials company’s stock worth $1,402,000 after purchasing an additional 2,721 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Bunge in the 3rd quarter worth $1,603,000. Federated Hermes Inc. boosted its position in shares of Bunge by 3.8% in the 2nd quarter. Federated Hermes Inc. now owns 35,556 shares of the basic materials company’s stock worth $2,778,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Bunge during the 2nd quarter worth about $245,000. 83.16% of the stock is currently owned by institutional investors and hedge funds.
About Bunge (NYSE:BG)
Bunge Ltd. operates as a holding company, which engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment involves in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products.
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