Bunge Limited’s (BG) “Hold” Rating Reaffirmed at Robert W. Baird
Robert W. Baird reissued their hold rating on shares of Bunge Limited (NYSE:BG) in a research report sent to investors on Friday. Robert W. Baird currently has a $77.00 price target on the basic materials company’s stock.
Several other analysts also recently weighed in on BG. BidaskClub upgraded Bunge Limited from a sell rating to a hold rating in a research report on Tuesday, July 4th. J P Morgan Chase & Co downgraded Bunge Limited to a neutral – underweight rating and set a $70.00 price objective for the company. in a research report on Tuesday, July 4th. Zacks Investment Research upgraded Bunge Limited from a sell rating to a hold rating in a research report on Tuesday, July 4th. Citigroup Inc. dropped their price objective on Bunge Limited from $94.00 to $88.00 and set a buy rating for the company in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies set a $79.00 price objective on Bunge Limited and gave the stock a buy rating in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Bunge Limited currently has a consensus rating of Hold and an average target price of $81.86.
Shares of Bunge Limited (NYSE:BG) opened at 70.78 on Friday. Bunge Limited has a 52 week low of $58.49 and a 52 week high of $83.75. The stock has a 50 day moving average price of $71.85 and a 200-day moving average price of $75.45. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 20.05 and a beta of 1.01.
Bunge Limited (NYSE:BG) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The business had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $10.88 billion. During the same period in the prior year, the company earned $0.79 EPS. Bunge Limited’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that Bunge Limited will post $3.49 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a yield of 2.60%. Bunge Limited’s payout ratio is presently 53.64%.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $80.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. IndexIQ Advisors LLC increased its holdings in Bunge Limited by 0.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 3,242 shares of the basic materials company’s stock worth $242,000 after purchasing an additional 27 shares in the last quarter. Rothschild Asset Management Inc. increased its holdings in Bunge Limited by 1.3% in the 2nd quarter. Rothschild Asset Management Inc. now owns 6,170 shares of the basic materials company’s stock worth $460,000 after purchasing an additional 81 shares in the last quarter. Bank of Hawaii increased its holdings in Bunge Limited by 1.0% in the 2nd quarter. Bank of Hawaii now owns 13,189 shares of the basic materials company’s stock worth $984,000 after purchasing an additional 129 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Bunge Limited by 3.8% in the 2nd quarter. Suntrust Banks Inc. now owns 4,537 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 166 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Bunge Limited by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 1,714 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 188 shares in the last quarter. 80.34% 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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