Bunge Ltd. (BG) Shares Down 4.3%
Bunge Ltd. (NYSE:BG)’s share price was down 4.3% 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 equities analysts have weighed in on BG shares. Zacks Investment Research upgraded shares of Bunge from a “sell” rating to a “hold” rating in a report on Monday, April 18th. JPMorgan Chase & Co. lowered shares of 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. Citigroup Inc. upped their price objective on shares of Bunge from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, April 29th. Credit Suisse Group AG upped their price objective on shares of Bunge from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Finally, Morgan Stanley restated a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $73.13.
The firm has a market cap of $8.92 billion and a P/E ratio of 12.322. The stock has a 50 day moving average price of $60.82 and a 200-day moving average price of $59.00.
Bunge (NYSE:BG) last released its earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.41. The company earned $10.50 billion during the quarter, compared to analysts’ expectations of $10.08 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Bunge’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts predict that Bunge Ltd. will post $5.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 17th. This is a boost from Bunge’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 2.65%.
In other Bunge news, Director L Patrick Lupo sold 11,230 shares of Bunge stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $61.28, for a total transaction of $688,174.40. Following the transaction, the director now directly owns 32,744 shares of the company’s stock, valued at $2,006,552.32. The sale was disclosed in a filing with the SEC, which is available at this link.
Several hedge funds and institutional investors have recently bought and sold shares of the company. TD Asset Management Inc. boosted its position in Bunge by 86.9% in the fourth quarter. TD Asset Management Inc. now owns 14,841 shares of the company’s stock worth $1,013,000 after buying an additional 6,900 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Bunge by 7.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 17,950 shares of the company’s stock worth $1,226,000 after buying an additional 1,206 shares during the period. Utah Retirement Systems raised its stake in shares of Bunge by 0.4% in the fourth quarter. Utah Retirement Systems now owns 25,742 shares of the company’s stock worth $1,757,000 after buying an additional 100 shares during the period. Janus Capital Management raised its stake in shares of Bunge by 464.4% in the third quarter. Janus Capital Management now owns 66,600 shares of the company’s stock worth $4,882,000 after buying an additional 54,800 shares during the period. Finally, Andra AP fonden raised its stake in shares of Bunge by 1.8% in the fourth quarter. Andra AP fonden now owns 89,700 shares of the company’s stock worth $6,125,000 after buying an additional 1,600 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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