Bunge (BG) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bunge (NYSE:BG) from a neutral rating to an overweight rating in a research report released on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $90.00 price objective on the basic materials company’s stock.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Bunge from a strong sell rating to a hold rating in a research note on Tuesday, January 30th. Citigroup raised Bunge from a neutral rating to a buy rating and raised their price target for the stock from $77.99 to $89.00 in a research note on Tuesday. Piper Jaffray Companies reissued a buy rating on shares of Bunge in a research note on Thursday, February 15th. Vertical Group raised Bunge from a hold rating to a buy rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group set a $84.00 price target on Bunge and gave the stock a buy rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Bunge currently has a consensus rating of Buy and an average target price of $85.86.

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Shares of Bunge (BG) opened at $74.96 on Wednesday. The stock has a market capitalization of $10,894.39, a P/E ratio of 84.23, a PEG ratio of 1.66 and a beta of 1.13. Bunge has a one year low of $63.87 and a one year high of $83.75. The company has a quick ratio of 0.86, a current ratio of 1.67 and a debt-to-equity ratio of 0.62.

Bunge (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.81). Bunge had a net margin of 0.35% and a return on equity of 4.36%. The company had revenue of $11.61 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the previous year, the business earned $1.70 earnings per share. Bunge’s revenue for the quarter was down 1.6% on a year-over-year basis. sell-side analysts predict that Bunge will post 3.9 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of BG. The Manufacturers Life Insurance Company raised its position in Bunge by 14,614.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 4,969 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Bunge during the 3rd quarter valued at $298,000. State Board of Administration of Florida Retirement System raised its position in Bunge by 0.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 214,721 shares of the basic materials company’s stock valued at $14,915,000 after purchasing an additional 1,320 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Bunge by 899.4% in the 3rd quarter. Stevens Capital Management LP now owns 34,238 shares of the basic materials company’s stock valued at $2,378,000 after acquiring an additional 30,812 shares during the period. Finally, State of Wisconsin Investment Board increased its holdings in shares of Bunge by 9.0% in the 3rd quarter. State of Wisconsin Investment Board now owns 135,164 shares of the basic materials company’s stock valued at $9,388,000 after acquiring an additional 11,208 shares during the period. 78.34% of the stock is owned by institutional investors and hedge funds.

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About Bunge

Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.

Analyst Recommendations for Bunge (NYSE:BG)

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