Bunge Limited (NYSE:BG – Get Rating) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $118.67.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group decreased their target price on shares of Bunge from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Wolfe Research assumed coverage on shares of Bunge in a research report on Friday, August 12th. They issued an “outperform” rating and a $127.00 target price on the stock. Monness Crespi & Hardt assumed coverage on shares of Bunge in a research report on Wednesday, July 6th. They set a “buy” rating and a $130.00 price target on the stock. TheStreet cut shares of Bunge from a “b” rating to a “c+” rating in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. raised shares of Bunge from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $130.00 to $106.00 in a research report on Thursday, July 7th.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Metis Global Partners LLC bought a new stake in shares of Bunge in the first quarter worth $313,000. Avidian Wealth Solutions LLC increased its stake in shares of Bunge by 20.2% in the first quarter. Avidian Wealth Solutions LLC now owns 2,709 shares of the basic materials company’s stock worth $300,000 after buying an additional 455 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Bunge by 7,596.8% in the fourth quarter. Schroder Investment Management Group now owns 121,070 shares of the basic materials company’s stock worth $11,303,000 after buying an additional 119,497 shares during the last quarter. Allworth Financial LP increased its stake in shares of Bunge by 1,486.2% in the first quarter. Allworth Financial LP now owns 1,491 shares of the basic materials company’s stock worth $165,000 after buying an additional 1,397 shares during the last quarter. Finally, Cetera Advisors LLC increased its stake in Bunge by 63.4% during the first quarter. Cetera Advisors LLC now owns 5,363 shares of the basic materials company’s stock valued at $594,000 after purchasing an additional 2,081 shares during the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.
Bunge Stock Performance
Bunge (NYSE:BG – Get Rating) last released its earnings results on Wednesday, July 27th. The basic materials company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). Bunge had a return on equity of 27.43% and a net margin of 2.73%. The company had revenue of $17.93 billion during the quarter, compared to analyst estimates of $18.64 billion. During the same period in the prior year, the business posted $2.61 earnings per share. Bunge’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that Bunge will post 12.65 earnings per share for the current year.
Bunge Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, November 17th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.58%. Bunge’s payout ratio is currently 21.51%.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains primarily wheat and corn; and processes oilseeds into vegetable oils and protein meals.
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