Brokerages Set Bunge Ltd (BG) Target Price at $80.33
Bunge Ltd (NYSE:BG) has been given an average recommendation of “Buy” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $80.33.
A number of equities research analysts have recently issued reports on BG shares. Zacks Investment Research upgraded Bunge from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Friday, August 3rd. JPMorgan Chase & Co. upgraded Bunge to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, July 9th. Citigroup dropped their price target on Bunge from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. ValuEngine lowered Bunge from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Finally, Credit Suisse Group decreased their price target on Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 2nd.
NYSE:BG opened at $64.61 on Friday. Bunge has a 12 month low of $61.28 and a 12 month high of $83.20. The company has a quick ratio of 0.71, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 33.30 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, November 16th. Bunge’s payout ratio is currently 103.09%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in Bunge by 7,200.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,460 shares of the basic materials company’s stock valued at $102,000 after buying an additional 1,440 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its holdings in Bunge by 272.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,784 shares of the basic materials company’s stock valued at $132,000 after buying an additional 1,305 shares during the last quarter. Truvestments Capital LLC purchased a new position in Bunge in the second quarter valued at $209,000. Gideon Capital Advisors Inc. purchased a new position in shares of Bunge during the second quarter worth about $226,000. Finally, IBM Retirement Fund purchased a new position in shares of Bunge during the first quarter worth about $229,000. Institutional investors and hedge funds own 80.40% of the company’s stock.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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