JPMorgan Chase & Co. upgraded shares of Bunge (NYSE:BG) from a neutral rating to an overweight rating in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has $90.00 price target on the basic materials company’s stock.
Several other research firms also recently weighed in on BG. Stephens upgraded Bunge from an equal weight rating to an overweight rating in a research note on Thursday, February 15th. Zacks Investment Research upgraded Bunge from a strong sell rating to a hold rating in a research note on Tuesday, January 30th. Piper Jaffray Companies restated a buy rating on shares of Bunge in a research note on Thursday, February 15th. Credit Suisse Group restated a buy rating and issued a $84.00 price target on shares of Bunge in a research note on Friday, February 16th. Finally, Vertical Group upgraded Bunge from a hold rating to a buy rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Bunge currently has an average rating of Buy and a consensus price target of $85.86.
Shares of Bunge (BG) opened at $74.96 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.67 and a quick ratio of 0.86. The firm has a market capitalization of $10,546.87, a P/E ratio of 84.23, a P/E/G ratio of 1.60 and a beta of 1.13. Bunge has a 52 week low of $63.87 and a 52 week high of $83.75.
A number of institutional investors and hedge funds have recently modified their holdings of BG. The Manufacturers Life Insurance Company boosted its stake in Bunge by 14,614.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 4,969 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Bunge during the 3rd quarter valued at $298,000. State Board of Administration of Florida Retirement System boosted its stake in Bunge by 0.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 214,721 shares of the basic materials company’s stock valued at $14,915,000 after purchasing an additional 1,320 shares during the last quarter. Stevens Capital Management LP boosted its stake in Bunge by 899.4% during the 3rd quarter. Stevens Capital Management LP now owns 34,238 shares of the basic materials company’s stock valued at $2,378,000 after purchasing an additional 30,812 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in Bunge by 9.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 135,164 shares of the basic materials company’s stock valued at $9,388,000 after purchasing an additional 11,208 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.
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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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