Bunge Limited (NYSE:BG – Get Rating) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 3,490,000 shares, a decline of 40.7% from the March 15th total of 5,890,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is currently 2.2 days. Approximately 2.5% of the company’s stock are sold short.
Shares of Bunge stock opened at $123.96 on Friday. The business has a 50-day moving average of $107.91 and a 200 day moving average of $96.92. Bunge has a 12 month low of $71.73 and a 12 month high of $124.37. The stock has a market capitalization of $17.59 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.77 and a quick ratio of 0.86.
Bunge (NYSE:BG – Get Rating) last announced its earnings results on Wednesday, February 9th. The basic materials company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.44. Bunge had a return on equity of 28.87% and a net margin of 3.45%. The company had revenue of $16.68 billion during the quarter, compared to analysts’ expectations of $15.51 billion. During the same period last year, the business posted $3.05 EPS. Equities research analysts anticipate that Bunge will post 10.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Thursday, May 19th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Wednesday, May 18th. Bunge’s dividend payout ratio (DPR) is 15.34%.
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Bunge in a report on Wednesday, January 12th. They issued a “hold” rating and a $94.00 target price for the company. Bank of America upgraded Bunge from a “neutral” rating to a “buy” rating and upped their price target for the stock from $105.00 to $120.00 in a research note on Friday, February 11th. Morgan Stanley lowered their target price on Bunge from $98.00 to $92.00 and set an “equal weight” rating for the company in a research report on Thursday, January 13th. Credit Suisse Group raised their price target on Bunge from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, February 10th. Finally, Barclays increased their target price on Bunge from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, February 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $105.11.
In related news, insider Julio Garros sold 1,050 shares of the company’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $100.45, for a total value of $105,472.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christos Dimopoulos sold 16,000 shares of the company’s stock in a transaction dated Saturday, March 12th. The stock was sold at an average price of $108.24, for a total transaction of $1,731,840.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,167,050 shares of company stock worth $121,705,813. Company insiders own 3.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Minot Wealth Management LLC acquired a new stake in Bunge in the 1st quarter valued at about $251,000. Townsend & Associates Inc raised its position in Bunge by 7.1% in the 1st quarter. Townsend & Associates Inc now owns 21,896 shares of the basic materials company’s stock valued at $2,589,000 after purchasing an additional 1,450 shares in the last quarter. AdvisorNet Financial Inc raised its position in Bunge by 12.6% in the 1st quarter. AdvisorNet Financial Inc now owns 8,663 shares of the basic materials company’s stock valued at $960,000 after purchasing an additional 966 shares in the last quarter. Corbenic Partners LLC acquired a new stake in Bunge in the 1st quarter valued at about $34,000. Finally, Gilman Hill Asset Management LLC raised its position in shares of Bunge by 15.5% during the 1st quarter. Gilman Hill Asset Management LLC now owns 5,775 shares of the basic materials company’s stock worth $640,000 after acquiring an additional 775 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, 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 processes oilseeds into vegetable oils and protein meals.