Bunge Limited’s (BG) “Buy” Rating Reaffirmed at Credit Suisse Group
Credit Suisse Group reissued their buy rating on shares of Bunge Limited (NYSE:BG) in a research report sent to investors on Friday. They currently have a $90.00 price target on the basic materials company’s stock.
BG has been the subject of a number of other reports. Piper Jaffray Companies reissued a buy rating and set a $86.00 price target on shares of Bunge Limited in a research report on Tuesday, September 5th. Vertical Group lowered shares of Bunge Limited from a buy rating to a hold rating in a research report on Tuesday. BidaskClub lowered shares of Bunge Limited from a hold rating to a sell rating in a research report on Saturday, August 5th. Zacks Investment Research raised shares of Bunge Limited from a sell rating to a hold rating in a research report on Tuesday, July 4th. Finally, Robert W. Baird started coverage on shares of Bunge Limited in a research report on Monday, September 11th. They set a neutral rating and a $77.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Bunge Limited has an average rating of Hold and a consensus price target of $83.71.
Shares of Bunge Limited (BG) traded down 0.41% during mid-day trading on Friday, reaching $72.53. 1,728,982 shares of the company traded hands. The firm has a 50-day moving average price of $75.78 and a 200 day moving average price of $77.06. Bunge Limited has a 52 week low of $58.19 and a 52 week high of $83.75. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 20.73 and a beta of 1.04.
Bunge Limited (NYSE:BG) last posted its quarterly earnings results 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 net margin of 1.12% and a return on equity of 6.65%. The company had revenue of $11.65 billion during the quarter, compared to analyst estimates of $10.88 billion. During the same period last year, the firm posted $0.79 EPS. Bunge Limited’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Bunge Limited will post $3.94 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.54%. Bunge Limited’s payout ratio is 53.64%.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.00, for a total transaction of $210,880.00. Following the sale, the insider now owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Bunge Limited by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock valued at $1,077,980,000 after acquiring an additional 1,224,073 shares during the period. BlackRock Inc. grew its stake in Bunge Limited by 1,532.8% in the 1st quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock valued at $633,427,000 after acquiring an additional 7,502,326 shares during the period. State Street Corp grew its stake in Bunge Limited by 3.5% in the 1st quarter. State Street Corp now owns 4,235,969 shares of the basic materials company’s stock valued at $335,753,000 after acquiring an additional 141,597 shares during the period. Dimensional Fund Advisors LP grew its stake in Bunge Limited by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,158,713 shares of the basic materials company’s stock valued at $161,027,000 after acquiring an additional 74,820 shares during the period. Finally, AQR Capital Management LLC grew its stake in Bunge Limited by 101.8% in the 1st quarter. AQR Capital Management LLC now owns 2,026,586 shares of the basic materials company’s stock valued at $160,627,000 after acquiring an additional 1,022,468 shares during the period. 80.36% of the stock is currently owned by hedge funds and other institutional investors.
About Bunge Limited
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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