Bunge Limited (NYSE:BG) Increases Dividend to $0.63 Per Share

Bunge Limited (NYSE:BGGet Rating) declared a quarterly dividend on Friday, May 13th, Wall Street Journal reports. Investors of record on Friday, August 19th will be given a dividend of 0.625 per share by the basic materials company on Friday, September 2nd. This represents a $2.50 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, August 18th. This is a positive change from Bunge’s previous quarterly dividend of $0.53.

Bunge has raised its dividend payment by an average of 1.9% per year over the last three years and has raised its dividend every year for the last 1 years. Bunge has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bunge to earn $10.26 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 20.5%.

BG opened at $109.58 on Friday. The stock has a market cap of $16.63 billion, a PE ratio of 8.66, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.46. Bunge has a 52 week low of $71.73 and a 52 week high of $128.40. The business’s fifty day simple moving average is $113.78 and its 200 day simple moving average is $101.55.

Bunge (NYSE:BGGet Rating) last released its earnings results on Wednesday, April 27th. The basic materials company reported $4.26 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.02. The business had revenue of $15.88 billion for the quarter, compared to analysts’ expectations of $14.63 billion. Bunge had a return on equity of 28.87% and a net margin of 3.07%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.13 earnings per share. As a group, equities analysts anticipate that Bunge will post 12.6 earnings per share for the current year.

A number of research analysts have recently issued reports on BG shares. StockNews.com cut Bunge from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised their price objective on Bunge from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, April 25th. Credit Suisse Group raised their price objective on Bunge from $120.00 to $140.00 in a research note on Thursday, April 28th. Zacks Investment Research raised Bunge from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Wednesday, April 20th. Finally, Bank of America cut Bunge from a “buy” rating to a “neutral” rating and raised their price objective for the company from $120.00 to $134.00 in a research note on Tuesday, April 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bunge presently has a consensus rating of “Buy” and a consensus target price of $115.56.

In other Bunge news, Director Paul J. Fribourg sold 230,000 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $107.71, for a total value of $24,773,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jerry Matthews Simmons, Jr. sold 44,666 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $114.98, for a total transaction of $5,135,696.68. Following the completion of the sale, the insider now owns 33,654 shares of the company’s stock, valued at $3,869,536.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,211,716 shares of company stock valued at $126,841,509. 2.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its holdings in shares of Bunge by 19.6% during the second quarter. Morgan Stanley now owns 1,161,433 shares of the basic materials company’s stock valued at $90,768,000 after purchasing an additional 190,022 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Bunge during the fourth quarter valued at approximately $254,000. Synovus Financial Corp lifted its holdings in shares of Bunge by 3.3% during the fourth quarter. Synovus Financial Corp now owns 4,956 shares of the basic materials company’s stock valued at $461,000 after purchasing an additional 156 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Bunge by 5.5% during the fourth quarter. Stifel Financial Corp now owns 89,979 shares of the basic materials company’s stock valued at $8,401,000 after purchasing an additional 4,724 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Bunge by 20.4% during the fourth quarter. Advisors Asset Management Inc. now owns 29,383 shares of the basic materials company’s stock valued at $2,743,000 after purchasing an additional 4,976 shares during the last quarter. Institutional investors and hedge funds own 86.11% of the company’s stock.

About Bunge (Get Rating)

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.

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Dividend History for Bunge (NYSE:BG)

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