Bunge (NYSE:BG) Sets New 52-Week High on Better-Than-Expected Earnings

Bunge Limited (NYSE:BG)’s stock price hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $88.96 and last traded at $87.99, with a volume of 35319 shares changing hands. The stock had previously closed at $85.83.

The basic materials company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $1.59. Bunge had a net margin of 1.34% and a return on equity of 19.81%. The firm had revenue of $12.96 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 41.3% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Wednesday, May 19th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, May 18th. Bunge’s dividend payout ratio (DPR) is 43.67%.

A number of research analysts have weighed in on the stock. Bank of America assumed coverage on shares of Bunge in a research note on Tuesday, April 27th. They issued a “neutral” rating and a $88.00 price objective on the stock. Credit Suisse Group raised their price target on shares of Bunge from $72.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. Barclays raised their price target on shares of Bunge from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. Finally, TheStreet raised shares of Bunge from a “c+” rating to a “b” rating in a research report on Wednesday, February 10th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.63.

In other Bunge news, insider Raul Padilla sold 1,100 shares of Bunge stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $78.56, for a total value of $86,416.00. Following the sale, the insider now owns 100,946 shares of the company’s stock, valued at $7,930,317.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Grain Co Continental sold 49,855 shares of Bunge stock in a transaction dated Thursday, March 4th. The stock was sold at an average price of $76.85, for a total transaction of $3,831,356.75. Following the completion of the sale, the director now directly owns 3,865,963 shares in the company, valued at approximately $297,099,256.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,331 shares of company stock worth $22,743,707. Insiders own 3.67% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Bunge by 2.1% in the fourth quarter. BlackRock Inc. now owns 9,279,826 shares of the basic materials company’s stock worth $608,570,000 after purchasing an additional 188,400 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Bunge by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,176,457 shares of the basic materials company’s stock worth $208,310,000 after purchasing an additional 14,866 shares in the last quarter. Northern Trust Corp increased its stake in shares of Bunge by 0.7% in the fourth quarter. Northern Trust Corp now owns 1,701,758 shares of the basic materials company’s stock worth $111,602,000 after purchasing an additional 12,333 shares in the last quarter. Norges Bank purchased a new position in shares of Bunge in the fourth quarter worth about $92,182,000. Finally, Janus Henderson Group PLC increased its stake in shares of Bunge by 2.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,136,397 shares of the basic materials company’s stock worth $74,525,000 after purchasing an additional 29,182 shares in the last quarter. Hedge funds and other institutional investors own 77.44% of the company’s stock.

The stock has a market cap of $12.20 billion, a PE ratio of 25.83 and a beta of 0.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.51 and a quick ratio of 0.79. The firm’s 50 day moving average price is $80.89 and its two-hundred day moving average price is $70.12.

About Bunge (NYSE:BG)

Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Fertilizer, 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 vegetable oils and protein meals.

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