Bunge (NYSE:BG) Receives New Coverage from Analysts at HSBC

Equities researchers at HSBC began coverage on shares of Bunge (NYSE:BG) in a research note issued to investors on Friday, FlyOnTheWall reports. The brokerage set a “hold” rating on the basic materials company’s stock.

Several other analysts also recently commented on BG. Robert W. Baird reduced their target price on shares of Bunge from $115.00 to $110.00 in a report on Wednesday, June 14th. 51job restated an “initiates” rating on shares of Bunge in a report on Thursday, June 22nd. UBS Group lifted their price target on Bunge from $133.00 to $141.00 and gave the stock a “buy” rating in a report on Monday, August 7th. BMO Capital Markets upped their price objective on Bunge from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, StockNews.com started coverage on Bunge in a report on Thursday, August 17th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

Bunge Trading Up 1.9 %

Bunge stock opened at $115.29 on Friday. The stock has a 50-day simple moving average of $110.04 and a 200 day simple moving average of $99.53. The stock has a market capitalization of $17.37 billion, a P/E ratio of 8.91 and a beta of 0.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.01 and a current ratio of 2.07. Bunge has a 52 week low of $80.41 and a 52 week high of $116.59.

Bunge (NYSE:BG) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $1.03. Bunge had a return on equity of 20.12% and a net margin of 3.09%. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.35 billion. During the same period in the previous year, the firm earned $2.97 EPS. The firm’s revenue was down 16.1% compared to the same quarter last year. Analysts expect that Bunge will post 12.22 earnings per share for the current year.

Insider Activity at Bunge

In other Bunge news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $111.89, for a total transaction of $2,237,800.00. Following the sale, the insider now directly owns 73,291 shares in the company, valued at $8,200,529.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Bunge

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC bought a new stake in shares of Bunge during the 1st quarter worth $31,000. Pinnacle Holdings LLC bought a new position in shares of Bunge in the first quarter worth about $36,000. Spire Wealth Management boosted its stake in shares of Bunge by 242.1% in the 1st quarter. Spire Wealth Management now owns 431 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 305 shares in the last quarter. First Manhattan CO. LLC. bought a new stake in shares of Bunge during the 1st quarter valued at approximately $48,000. Finally, Zions Bancorporation N.A. increased its position in Bunge by 1,628.3% during the 1st quarter. Zions Bancorporation N.A. now owns 795 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 749 shares in the last quarter. 84.92% of the stock is currently owned by institutional investors.

About Bunge

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 comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.