Bunge Limited (BG) Given a $86.00 Price Target at Piper Jaffray Companies
Piper Jaffray Companies set a $86.00 target price on Bunge Limited (NYSE:BG) in a research note issued to investors on Thursday morning. The firm currently has a buy rating on the basic materials company’s stock.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Bunge Limited from a hold rating to a strong sell rating in a research note on Tuesday, June 20th. Stephens lowered Bunge Limited from an overweight rating to an equal weight rating in a research note on Wednesday, May 3rd. Credit Suisse Group reissued a hold rating and issued a $80.00 target price on shares of Bunge Limited in a research note on Thursday, May 25th. J P Morgan Chase & Co lowered Bunge Limited from a neutral rating to an underweight rating and set a $70.00 target price for the company. in a research note on Thursday, April 6th. Finally, BMO Capital Markets reissued a buy rating on shares of Bunge Limited in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Bunge Limited currently has an average rating of Hold and a consensus target price of $84.83.
Bunge Limited (BG) traded up 0.50% during trading on Thursday, reaching $76.34. The company’s stock had a trading volume of 767,275 shares. The stock has a 50-day moving average price of $77.24 and a 200 day moving average price of $76.23. The company has a market cap of $10.76 billion, a PE ratio of 21.76 and a beta of 1.02. Bunge Limited has a 52-week low of $58.19 and a 52-week high of $83.75.
Bunge Limited (NYSE:BG) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The firm had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $10.88 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect that Bunge Limited will post $4.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.46 per share. This is a positive change from Bunge Limited’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.84 dividend on an annualized basis and a yield of 2.41%. Bunge Limited’s dividend payout ratio is presently 48.98%.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.00, for a total transaction of $210,880.00. Following the completion of the transaction, the insider now owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BG. MUFG Americas Holdings Corp raised its position in shares of Bunge Limited by 115.7% in the first quarter. MUFG Americas Holdings Corp now owns 1,361 shares of the basic materials company’s stock valued at $108,000 after buying an additional 730 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Bunge Limited by 26.3% in the first quarter. Toronto Dominion Bank now owns 1,526 shares of the basic materials company’s stock valued at $121,000 after buying an additional 318 shares in the last quarter. Creative Planning raised its position in shares of Bunge Limited by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after buying an additional 822 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of Bunge Limited during the first quarter valued at about $160,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Bunge Limited during the second quarter valued at about $200,000. 81.62% of the stock is owned by institutional investors and hedge funds.
Bunge Limited Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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