Bunge Limited (BG) Upgraded at Zacks Investment Research
Bunge Limited (NYSE:BG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
BG has been the subject of a number of other research reports. Credit Suisse Group set a $90.00 price objective on Bunge Limited and gave the company a “buy” rating in a research report on Tuesday, July 18th. Piper Jaffray Companies reissued a “buy” rating and set a $86.00 price objective on shares of Bunge Limited in a research note on Tuesday, September 5th. BidaskClub cut Bunge Limited from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Vertical Group cut Bunge Limited from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, J P Morgan Chase & Co lowered Bunge Limited to a “neutral – underweight” rating and set a $70.00 target price on the stock. in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $81.86.
Bunge Limited (NYSE:BG) traded down 0.86% during mid-day trading on Tuesday, reaching $69.32. The company had a trading volume of 1,148,195 shares. The stock’s 50-day moving average is $73.77 and its 200 day moving average is $76.19. Bunge Limited has a 12 month low of $58.49 and a 12 month high of $83.75. The firm has a market capitalization of $9.75 billion, a P/E ratio of 19.82 and a beta of 1.01.
Bunge Limited (NYSE:BG) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. The firm had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $10.88 billion. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts predict that Bunge Limited will post $3.74 earnings per share for the current fiscal year.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction on 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 sale, the insider now owns 20,214 shares in the company, valued at $1,617,120. The transaction 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 insiders.
Several institutional investors have recently modified their holdings of BG. Schwab Charles Investment Management Inc. raised its position in Bunge Limited by 52.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 810,842 shares of the basic materials company’s stock valued at $60,489,000 after buying an additional 279,307 shares during the period. Aviva PLC boosted its position in Bunge Limited by 0.7% during the 2nd quarter. Aviva PLC now owns 87,275 shares of the basic materials company’s stock worth $6,512,000 after acquiring an additional 610 shares during the period. Commonwealth Bank of Australia boosted its position in Bunge Limited by 19.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 134,844 shares of the basic materials company’s stock worth $10,058,000 after acquiring an additional 22,132 shares during the period. TIAA CREF Investment Management LLC boosted its position in Bunge Limited by 15.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,092,286 shares of the basic materials company’s stock worth $81,485,000 after acquiring an additional 146,806 shares during the period. Finally, Paloma Partners Management Co boosted its position in Bunge Limited by 284.6% during the 1st quarter. Paloma Partners Management Co now owns 45,877 shares of the basic materials company’s stock worth $3,636,000 after acquiring an additional 33,948 shares during the period. 80.34% of the stock is owned by institutional investors and hedge funds.
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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