Bunge (NYSE:BG) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bunge (NYSE:BGGet Rating) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $138.00 price target on the basic materials company’s stock.

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. “

Several other brokerages have also issued reports on BG. Barclays raised their price objective on Bunge from $110.00 to $120.00 and gave the stock an overweight rating in a report on Monday, February 14th. JPMorgan Chase & Co. assumed coverage on shares of Bunge in a research note on Wednesday, January 12th. They set a hold rating and a $94.00 target price for the company. Credit Suisse Group increased their target price on shares of Bunge from $95.00 to $115.00 and gave the stock an outperform rating in a research note on Thursday, February 10th. Morgan Stanley decreased their target price on shares of Bunge from $98.00 to $92.00 and set an equal weight rating for the company in a research note on Thursday, January 13th. Finally, Bank of America downgraded shares of 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 research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $111.11.

Shares of BG stock opened at $117.94 on Wednesday. The stock’s 50-day moving average is $110.35 and its two-hundred day moving average is $98.41. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 8.62, a PEG 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 $128.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.86 and a current ratio of 1.77.

Bunge (NYSE:BGGet Rating) last issued its quarterly earnings data on Wednesday, February 9th. The basic materials company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.44. The company had revenue of $16.68 billion for the quarter, compared to analyst estimates of $15.51 billion. Bunge had a return on equity of 28.87% and a net margin of 3.45%. During the same quarter last year, the company posted $3.05 earnings per share. As a group, research analysts predict that Bunge will post 10.59 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Thursday, May 19th will be given a dividend of $0.525 per share. The ex-dividend date is Wednesday, May 18th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.78%. Bunge’s payout ratio is 15.34%.

In other news, Director Paul J. Fribourg sold 230,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $107.71, for a total transaction of $24,773,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $99.32, for a total transaction of $19,864,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,167,050 shares of company stock valued at $121,705,813. Insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its stake in Bunge by 19.6% in the 2nd quarter. Morgan Stanley now owns 1,161,433 shares of the basic materials company’s stock worth $90,768,000 after acquiring an additional 190,022 shares during the period. Signaturefd LLC grew its stake in Bunge by 15.0% in the 3rd quarter. Signaturefd LLC now owns 889 shares of the basic materials company’s stock worth $72,000 after acquiring an additional 116 shares during the period. Commonwealth Equity Services LLC grew its stake in Bunge by 2.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,752 shares of the basic materials company’s stock worth $2,338,000 after acquiring an additional 579 shares during the period. Nordea Investment Management AB grew its stake in Bunge by 100.0% in the 3rd quarter. Nordea Investment Management AB now owns 55,070 shares of the basic materials company’s stock worth $4,452,000 after acquiring an additional 27,535 shares during the period. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in Bunge in the 3rd quarter worth approximately $1,603,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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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