Bunge Ltd. (BG) Shares Up 1.2%
Bunge Ltd. (NYSE:BG) shot up 1.2% during mid-day trading on Wednesday . The company traded as high as $63.68 and last traded at $63.30, with a volume of 769,684 shares trading hands. The stock had previously closed at $62.52.
A number of research firms have recently issued reports on BG. Bank of America Corp. upgraded shares of Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research lowered shares of Bunge from a “buy” rating to a “hold” rating in a report on Monday, August 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $72.00 price objective on shares of Bunge in a research note on Monday, August 1st. BB&T Corp. initiated coverage on shares of Bunge in a research note on Tuesday, July 12th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Morgan Stanley reiterated a “neutral” rating on shares of Bunge in a research note on Thursday, June 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $73.13.
The company has a 50 day moving average of $63.53 and a 200-day moving average of $59.93. The firm has a market capitalization of $8.78 billion and a P/E ratio of 12.13.
Bunge (NYSE:BG) last issued its earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.41. During the same period last year, the business posted $0.50 EPS. The business earned $10.50 billion during the quarter, compared to the consensus estimate of $10.08 billion. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts predict that Bunge Ltd. will post $5.35 EPS for the current fiscal year.
The firm 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. This represents a $1.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, November 16th.
A hedge fund recently raised its stake in Bunge stock. BNP Paribas Arbitrage SA boosted its stake in Bunge Ltd. (NYSE:BG) by 27.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,065 shares of the company’s stock after buying an additional 19,978 shares during the period. BNP Paribas Arbitrage SA owned 0.07% of Bunge worth $6,354,000 at the end of the most recent 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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