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 equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Bunge from a buy rating to a hold rating in a research note on Friday, November 1st. TheStreet downgraded shares of Bunge from a b- rating to a c- rating in a research note on Wednesday, October 30th. Credit Suisse Group reiterated a buy rating on shares of Bunge in a research report on Monday, November 4th. Finally, Stephens initiated coverage on shares of Bunge in a research report on Tuesday, October 8th. They set an overweight rating and a $74.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $70.00.
Bunge (NYSE:BG) last posted its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.87. Bunge had a negative net margin of 3.09% and a positive return on equity of 9.31%. The firm had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter in the previous year, the company earned $2.52 earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year. As a group, research analysts forecast that Bunge will post 2.95 EPS for the current year.
In related news, Director Grain Co Continental purchased 20,000 shares of Bunge stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $52.27 per share, for a total transaction of $1,045,400.00. Following the transaction, the director now directly owns 3,931,155 shares in the company, valued at $205,481,471.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.18% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. DNB Asset Management AS increased its stake in shares of Bunge by 7.8% in the 2nd quarter. DNB Asset Management AS now owns 72,646 shares of the basic materials company’s stock valued at $4,047,000 after acquiring an additional 5,271 shares during the last quarter. Investors Research Corp increased its stake in shares of Bunge by 3.3% in the 2nd quarter. Investors Research Corp now owns 9,350 shares of the basic materials company’s stock valued at $521,000 after acquiring an additional 300 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Bunge by 14.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 25,688 shares of the basic materials company’s stock valued at $1,431,000 after acquiring an additional 3,301 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Bunge in the 2nd quarter valued at about $202,000. Finally, CENTRAL TRUST Co increased its stake in shares of Bunge by 3,416.1% in the 2nd quarter. CENTRAL TRUST Co now owns 6,540 shares of the basic materials company’s stock valued at $370,000 after acquiring an additional 6,354 shares during the last quarter. 80.26% of the stock is owned by hedge funds and other institutional investors.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.
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