Bunge (NYSE:BG) Reaches New 12-Month High Following Better-Than-Expected Earnings

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

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 2nd. Stockholders of record on Wednesday, May 19th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, May 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. Bunge’s dividend payout ratio is presently 43.67%.

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

In other Bunge news, insider Raul Padilla sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $78.56, for a total transaction of $86,416.00. Following the transaction, the insider now owns 100,946 shares in the company, valued at approximately $7,930,317.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christos Dimopoulos sold 2,000 shares of the stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $81.48, for a total transaction of $162,960.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 283,331 shares of company stock worth $22,743,707. 3.67% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in BG. NEXT Financial Group Inc lifted its holdings in shares of Bunge by 352.2% during the 4th quarter. NEXT Financial Group Inc now owns 407 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 317 shares during the period. First Quadrant L P CA bought a new stake in shares of Bunge during the 1st quarter worth approximately $27,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Bunge during the 1st quarter worth approximately $48,000. Rosenberg Matthew Hamilton bought a new stake in shares of Bunge during the 4th quarter worth approximately $50,000. Finally, Kempen Capital Management N.V. bought a new stake in shares of Bunge during the 4th quarter worth approximately $70,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.

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

Bunge Company Profile (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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