Bunge Ltd. (BG) Stock Price Down 4.3%
Bunge Ltd. (NYSE:BG) fell 4.3% during trading on Monday . The stock traded as low as $62.97 and last traded at $63.04, with a volume of 702,352 shares trading hands. The stock had previously closed at $65.84.
Several research firms have commented on BG. Zacks Investment Research upgraded Bunge from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, June 13th. JPMorgan Chase & Co. cut Bunge from an “overweight” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Friday, April 22nd. BB&T Corp. began coverage on Bunge in a research note on Tuesday, July 12th. They issued a “buy” rating and a $75.00 target price on the stock. Morgan Stanley restated a “neutral” rating on shares of Bunge in a research note on Thursday, June 16th. Finally, Credit Suisse Group AG boosted their target price on Bunge from $66.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Bunge currently has a consensus rating of “Buy” and a consensus price target of $73.13.
The firm has a 50-day moving average price of $60.79 and a 200-day moving average price of $58.99. The firm has a market cap of $8.82 billion and a price-to-earnings ratio of 12.23.
Bunge (NYSE:BG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.41. During the same period in the prior year, the company posted $0.50 earnings per share. The business earned $10.50 billion during the quarter, compared to the consensus estimate of $10.08 billion. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Bunge Ltd. will post $5.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be given a $0.42 dividend. The ex-dividend date is Wednesday, August 17th. This is a positive change from Bunge’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 2.67%.
In other news, Director L Patrick Lupo sold 11,230 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $61.28, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds and institutional investors have recently modified their holdings of BG. Janus Capital Management boosted its position in shares of Bunge by 464.4% in the third quarter. Janus Capital Management now owns 66,600 shares of the company’s stock valued at $4,882,000 after buying an additional 54,800 shares during the period. TD Asset Management Inc. boosted its position in shares of Bunge by 86.9% in the fourth quarter. TD Asset Management Inc. now owns 14,841 shares of the company’s stock valued at $1,013,000 after buying an additional 6,900 shares during the period. Vanguard Group Inc. boosted its position in shares of 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 period. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Bunge by 0.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 220,449 shares of the company’s stock valued at $15,156,000 after buying an additional 820 shares during the period. Finally, Morgan Stanley boosted its position in shares of Bunge by 8.8% in the fourth quarter. Morgan Stanley now owns 791,273 shares of the company’s stock valued at $54,028,000 after buying an additional 64,168 shares during the period.
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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