Bunge Ltd. (BG) Shares Down 0.9%
Bunge Ltd. (NYSE:BG) shares traded down 0.9% on Monday . The company traded as low as $59.36 and last traded at $59.48, with a volume of 346,720 shares. The stock had previously closed at $60.00.
A number of research analysts recently weighed in on the company. Credit Suisse Group AG upped their price objective on Bunge from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Zacks Investment Research raised Bunge from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Thursday, June 30th. Citigroup Inc. upped their price objective on Bunge from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, April 29th. Morgan Stanley reaffirmed a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. Finally, JPMorgan Chase & Co. lowered Bunge from an “overweight” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Friday, April 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bunge has a consensus rating of “Buy” and an average price target of $76.50.
The firm’s 50 day moving average is $62.60 and its 200-day moving average is $59.42. The stock has a market cap of $8.29 billion and a P/E ratio of 12.07.
Bunge (NYSE:BG) last announced its quarterly earnings data on Thursday, April 28th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.68. The company had revenue of $8.92 billion for the quarter, compared to analyst estimates of $10.24 billion. Bunge’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS. On average, equities research analysts forecast that Bunge Ltd. will post $5.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be issued a dividend of $0.42 per share. This is a positive change from Bunge’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 17th. This represents a $1.68 annualized dividend and a dividend yield of 2.82%.
In other news, Director L Patrick Lupo sold 11,230 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $61.28, for a total transaction of $688,174.40. Following the completion of the sale, the director now directly owns 32,744 shares of the company’s stock, valued at $2,006,552.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Several large investors have bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bunge by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 11,365,224 shares of the company’s stock valued at $776,018,000 after buying an additional 550,675 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Bunge by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,704,915 shares of the company’s stock worth $116,418,000 after buying an additional 68,907 shares during the last quarter. Morgan Stanley increased its stake in shares of Bunge by 8.8% in the fourth quarter. Morgan Stanley now owns 791,273 shares of the company’s stock worth $54,028,000 after buying an additional 64,168 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Bunge by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 394,222 shares of the company’s stock worth $26,917,000 after buying an additional 4,900 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Bunge by 12.1% in the fourth quarter. Principal Financial Group Inc. now owns 300,179 shares of the company’s stock worth $20,496,000 after buying an additional 32,289 shares during the last quarter.
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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