Bunge (NYSE:BG) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Bunge (NYSE:BGGet Rating) from a buy rating to a hold rating in a research note published on Tuesday.

Several other research firms have also issued reports on BG. Credit Suisse Group increased their price objective on shares of Bunge from $120.00 to $140.00 in a research report on Thursday, April 28th. Zacks Investment Research upgraded shares of Bunge from a hold rating to a buy rating and set a $138.00 price target on the stock in a research report on Wednesday, April 20th. JPMorgan Chase & Co. started coverage on shares of Bunge in a report on Wednesday, January 12th. They issued a hold rating and a $94.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Bunge from $98.00 to $92.00 and set an equal weight rating on the stock in a research note on Thursday, January 13th. Finally, Bank of America cut shares of Bunge from a buy rating to a neutral rating and lifted their price objective for the stock from $120.00 to $134.00 in a research note on Tuesday, April 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $115.56.

Shares of NYSE BG opened at $109.58 on Tuesday. Bunge has a 12-month low of $71.73 and a 12-month high of $128.40. The company has a market capitalization of $16.63 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.51 and a quick ratio of 0.71. The firm’s 50-day moving average is $113.78 and its two-hundred day moving average is $101.55.

Bunge (NYSE:BGGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The basic materials company reported $4.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.02. Bunge had a net margin of 3.07% and a return on equity of 28.87%. The company had revenue of $15.88 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the prior year, the firm earned $3.13 earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, analysts forecast that Bunge will post 12.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be given a dividend of $0.625 per share. This is an increase from Bunge’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.50 annualized dividend and a yield of 2.28%. Bunge’s dividend payout ratio is 16.60%.

In other Bunge news, Director Grain Co Continental sold 200,000 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $100.56, for a total transaction of $20,112,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Julio Garros sold 1,050 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $100.45, for a total value of $105,472.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,211,716 shares of company stock worth $126,841,509. 2.20% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. McIlrath & Eck LLC increased its stake in shares of Bunge by 120.6% in the 3rd quarter. McIlrath & Eck LLC now owns 311 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 170 shares during the last quarter. Curi Wealth Management LLC bought a new stake in shares of Bunge in the 4th quarter valued at about $28,000. Corbenic Partners LLC bought a new stake in shares of Bunge in the 1st quarter valued at about $34,000. Pinnacle Holdings LLC bought a new stake in shares of Bunge in the 1st quarter valued at about $36,000. Finally, Ahrens Investment Partners LLC bought a new stake in shares of Bunge in the 4th quarter valued at about $37,000. 86.11% 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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