Bunge Ltd. (BG) Stock Price Down 1.3%
Bunge Ltd. (NYSE:BG) dropped 1.3% on Thursday . The company 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.
BG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Bunge from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, June 13th. Citigroup Inc. lifted their price target on Bunge from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, April 29th. BB&T Corp. started coverage on Bunge in a research report on Tuesday, July 12th. They set a “buy” rating and a $75.00 price target on the stock. Bank of America Corp. upgraded Bunge from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 2nd. Finally, Morgan Stanley restated a “neutral” rating on shares of Bunge in a research report on Thursday, June 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bunge presently has a consensus rating of “Buy” and a consensus price target of $73.13.
The company has a market capitalization of $8.92 billion and a price-to-earnings ratio of 12.32. The stock’s 50-day moving average price is $62.58 and its 200 day moving average price is $59.51.
Bunge (NYSE:BG) last issued its quarterly earnings data 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 had revenue of $10.50 billion for the quarter, compared to analysts’ expectations of $10.08 billion. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. On average, equities analysts forecast that Bunge Ltd. will post $5.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.63%.
Several large investors have modified their holdings of BG. 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 valued at $20,496,000 after buying an additional 32,289 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Bunge by 27.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 93,065 shares of the company’s stock valued at $6,354,000 after buying an additional 19,978 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Bunge during the fourth quarter valued at $4,158,000. Utah Retirement Systems increased 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 valued at $1,757,000 after buying an additional 100 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased 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 valued at $1,226,000 after buying an additional 1,206 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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