Bunge Ltd (NYSE:BG) declared a quarterly dividend on Wednesday, March 14th, RTT News reports. Stockholders of record on Wednesday, March 21st will be given a dividend of 0.46 per share by the basic materials company on Monday, June 4th. This represents a $1.84 annualized dividend and a dividend yield of 2.48%.
Bunge has raised its dividend by an average of 11.2% annually over the last three years and has increased its dividend every year for the last 16 years. Bunge has a payout ratio of 62.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bunge to earn $4.75 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 38.7%.
Shares of Bunge (NYSE BG) traded down $1.63 during trading hours on Wednesday, reaching $74.24. 1,030,841 shares of the company were exchanged, compared to its average volume of 2,062,819. The company has a market capitalization of $10,670.00, a PE ratio of 66.85, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. Bunge has a 1 year low of $63.87 and a 1 year high of $83.75. The company has a quick ratio of 0.86, a current ratio of 1.67 and a debt-to-equity ratio of 0.62.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Bunge from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 30th. Citigroup upgraded shares of Bunge from a “neutral” rating to a “buy” rating and raised their target price for the stock from $77.99 to $89.00 in a report on Tuesday, March 6th. Credit Suisse Group set a $84.00 target price on shares of Bunge and gave the stock a “buy” rating in a report on Monday, January 22nd. Piper Jaffray Companies restated a “buy” rating on shares of Bunge in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. upgraded shares of Bunge from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $85.86.
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Bunge 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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