Bunge Limited (NYSE:BG) announced a quarterly dividend on Monday, August 10th, Wall Street Journal reports. Investors of record on Wednesday, November 18th will be given a dividend of 0.50 per share by the basic materials company on Wednesday, December 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, November 17th.
Bunge has increased its dividend by 25.0% over the last three years and has raised its dividend every year for the last 1 years. Bunge has a dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bunge to earn $5.22 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 38.3%.
BG opened at $59.17 on Monday. Bunge has a 1 year low of $29.00 and a 1 year high of $60.50. The stock has a fifty day moving average price of $52.87 and a 200 day moving average price of $44.72. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 17.56 and a beta of 0.76. The company has a current ratio of 1.51, a quick ratio of 0.79 and a debt-to-equity ratio of 0.93.
A number of analysts have weighed in on BG shares. JPMorgan Chase & Co. boosted their price target on Bunge from $47.00 to $61.00 and gave the stock a “neutral” rating in a research report on Monday, October 19th. TheStreet raised Bunge from a “d+” rating to a “c-” rating in a research report on Wednesday, September 9th. ValuEngine cut Bunge from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 5th. Morgan Stanley boosted their price objective on Bunge from $50.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Finally, Credit Suisse Group boosted their price objective on Bunge from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Bunge presently has an average rating of “Buy” and a consensus target price of $63.71.
In other news, Director Vinita Bali purchased 1,200 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $46.17 per share, for a total transaction of $55,404.00. Following the completion of the purchase, the director now directly owns 9,672 shares of the company’s stock, valued at approximately $446,556.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.67% of the company’s stock.
Bunge Limited operates as an agribusiness and food company worldwide. It operates in five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. 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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