Bunge (NYSE:BG – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm currently has a $138.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.52% from the company’s current price.
According to Zacks, “Bunge Ltd. is an integrated global agribusiness and food company spanning the farm-to-consumer food chain. Bunge processes, produces, moves, distributes and markets food on five continents. “
A number of other research analysts also recently commented on the company. Credit Suisse Group increased their target price on Bunge from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, February 10th. StockNews.com initiated coverage on Bunge in a report on Thursday, March 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. initiated coverage on Bunge in a report on Wednesday, January 12th. They set a “hold” rating and a $94.00 target price on the stock. Bank of America downgraded Bunge from a “buy” rating to a “neutral” rating and increased their target price for the stock from $120.00 to $134.00 in a report on Tuesday. Finally, Barclays increased their price target on Bunge from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, February 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Bunge has an average rating of “Buy” and a consensus price target of $111.11.
BG traded down $0.76 on Wednesday, reaching $126.00. The company’s stock had a trading volume of 2,294,814 shares, compared to its average volume of 1,561,136. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.75 and a beta of 0.54. Bunge has a 1 year low of $71.73 and a 1 year high of $127.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.77 and a quick ratio of 0.86. The business’s 50 day moving average is $109.40 and its 200 day moving average is $97.94.
Bunge (NYSE:BG – Get Rating) last issued its quarterly earnings results on Wednesday, February 9th. The basic materials company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.44. The firm had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $15.51 billion. Bunge had a return on equity of 28.87% and a net margin of 3.45%. During the same quarter in the prior year, the business posted $3.05 earnings per share. As a group, research analysts forecast that Bunge will post 10.59 earnings per share for the current fiscal year.
In other news, insider Christos Dimopoulos sold 16,000 shares of the firm’s stock in a transaction on Saturday, March 12th. The stock was sold at an average price of $108.24, for a total value of $1,731,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Fribourg sold 200,000 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $99.32, for a total value of $19,864,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,167,050 shares of company stock worth $121,705,813. 2.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Bunge during the fourth quarter valued at $52,225,000. Cohen & Steers Inc. raised its holdings in Bunge by 7.4% during the third quarter. Cohen & Steers Inc. now owns 86,707 shares of the basic materials company’s stock valued at $7,051,000 after buying an additional 5,959 shares in the last quarter. Kehrs Ridge Capital LLC raised its holdings in Bunge by 87.5% during the third quarter. Kehrs Ridge Capital LLC now owns 150,000 shares of the basic materials company’s stock valued at $12,198,000 after buying an additional 70,000 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Bunge by 276.1% during the fourth quarter. D.A. Davidson & CO. now owns 25,762 shares of the basic materials company’s stock valued at $2,405,000 after buying an additional 18,912 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new position in Bunge during the third quarter valued at about $1,603,000. 84.06% of the stock is owned by hedge funds and other institutional investors.
Bunge Company Profile (Get Rating)
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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