Bunge Ltd. (BG) Stock Price Down 1.3%
Bunge Ltd. (NYSE:BG) fell 1.3% on Thursday . The stock traded as low as $63.75 and last traded at $64.13, with a volume of 381,850 shares traded. The stock had previously closed at $64.96.
Several research firms recently weighed in on BG. Bank of America Corp. upgraded Bunge from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research cut Bunge from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Credit Suisse Group AG boosted their target price on Bunge from $66.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, May 2nd. Citigroup Inc. boosted their target price on Bunge from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. Finally, JPMorgan Chase & Co. cut Bunge from an “overweight” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Friday, April 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $73.13.
The stock’s 50-day moving average price is $62.35 and its 200-day moving average price is $59.49. The company has a market cap of $8.92 billion and a price-to-earnings ratio of 12.32.
Bunge (NYSE:BG) last posted 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 analyst estimates of $10.08 billion. Bunge’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, equities research analysts forecast that Bunge Ltd. will post $5.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.63%.
Other large investors recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in 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 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bunge during the fourth quarter worth about $4,158,000. BNP Paribas Arbitrage SA raised its stake in Bunge by 27.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 93,065 shares of the company’s stock worth $6,354,000 after buying an additional 19,978 shares during the period. Finally, Principal Financial Group Inc. raised its stake in 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.