Bunge Limited (BG) Given Hold Rating at Robert W. Baird
Bunge Limited (NYSE:BG)‘s stock had its “hold” rating reissued by equities researchers at Robert W. Baird in a research note issued to investors on Friday. They presently have a $77.00 price objective on the basic materials company’s stock. Robert W. Baird’s price target indicates a potential upside of 6.22% from the stock’s current price.
Several other research firms have also issued reports on BG. Zacks Investment Research upgraded Bunge Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies restated a “buy” rating and set a $84.00 price target on shares of Bunge Limited in a research report on Friday, July 21st. Credit Suisse Group set a $90.00 price target on Bunge Limited and gave the stock a “buy” rating in a research report on Tuesday, July 18th. BidaskClub lowered Bunge Limited from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, J P Morgan Chase & Co lowered Bunge Limited to a “neutral – underweight” rating and set a $70.00 price target on the stock. in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Bunge Limited has an average rating of “Hold” and a consensus price target of $81.86.
Bunge Limited (BG) traded up 6.84% during trading on Friday, hitting $72.49. The company had a trading volume of 5,702,617 shares. Bunge Limited has a 1-year low of $58.49 and a 1-year high of $83.75. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 20.72 and a beta of 1.01. The company’s 50 day moving average price is $71.85 and its 200-day moving average price is $75.49.
Bunge Limited (NYSE:BG) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The business had revenue of $11.65 billion for the quarter, compared to analyst estimates of $10.88 billion. During the same period last year, the company earned $0.79 EPS. Bunge Limited’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect that Bunge Limited will post $3.49 EPS for the current year.
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In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction that occurred 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 approximately $1,617,120. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Bunge Limited by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock valued at $1,077,980,000 after purchasing an additional 1,224,073 shares during the period. State Street Corp lifted its stake in shares of Bunge Limited by 3.5% in the 1st quarter. State Street Corp now owns 4,235,969 shares of the basic materials company’s stock valued at $335,753,000 after purchasing an additional 141,597 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Bunge Limited by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,158,713 shares of the basic materials company’s stock valued at $161,027,000 after purchasing an additional 74,820 shares during the period. York Capital Management Global Advisors LLC purchased a new position in shares of Bunge Limited in the 2nd quarter valued at approximately $136,703,000. Finally, Boussard & Gavaudan Investment Management LLP purchased a new position in shares of Bunge Limited in the 2nd quarter valued at approximately $86,883,000. Institutional investors and hedge funds own 80.34% of the company’s stock.
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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