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Bunge Limited
Type
Public
Traded as NYSE: BG
Industry Food processing
Founded 1818
Founder Johann P. G. Bunge
Headquarters White Plains, New York, United States (operations); Bermuda (legal domicile)
Area served
Worldwide
Key people
Soren Schroder
(CEO)
Products List of products
Revenue US$ 42.679 billion (2016)
Number of employees
32,000 (2017)
Website Bunge.com

Bunge Limited (formerly Bunge International, and prior to that Bunge y Born) is a global agribusiness and food company, incorporated in Bermuda, and headquartered in White Plains, United States. As well as being an international soybean exporter, it is also involved in food processing, grain trading, and fertilizer. It competes with Cargill and Archer Daniels Midland. The company has approximately 32,000 employees in 40 countries.

Bunge y Born was founded in 1818 by Johann Peter Gotlieb Bunge in Amsterdam, it was relocated to Antwerp by Edouard Bounge in 1859. Edouard's brother; Ernest Bunge, took the Bunge name to Argentina in 1884, and in 1905 the business extended to Brazil and later on to the United States. The company was converted into the Bermuda-registered Bunge International in 1994, retaining the Bunge y Born name only in Argentina. Bunge remained a privately held company of 180 shareholders (including the longtime controlling family interests) and divested itself in 1998 of almost all its retail foods interests in favor of a greater role in international agribusiness and commodity markets; by then the company's gross annual turnover had reached US$13 billion. Bunge ultimately went public on the New York Stock Exchange in 2001, becoming Bunge Limited.

In 1994, the Bermuda-registered Bunge International was created as the main company in which the families had shares. There were around 180 shareholders—the main families were Hirsch, Bunge, Born, Engels, and De La Tour. This replaced the older structure in which individual shareholders had stakes in all the different Bunge companies. Now only in Argentina does the Bunge y Born name still exist.

In 2001, under the leadership of Alberto Weisser, Bunge was listed on the New York Stock Exchange. Through their three businesses—agribusiness, fertilizer, and food products—they have established a leading global presence in the farm-to-consumer food chain. Bunge is the world's largest oilseed processor, the world's number one seller of bottled vegetable oil to consumers and the largest producer and supplier of fertilizers to farmers in South America.

In 2004, Bunge acquired Cereol, parent of oilseed companies Central Soya and CanAmera Foods. In 2008, Bunge acquired Walter Rau, a margarine company, from Germany. In 2009, Bunge acquired the margarine business from Raisio Group, maker of functional food ingredients. In 2017, Bunge announced intentions to acquire a 70% stake in IOI Loders Croklaan for $946 million from Malaysian palm oil producer IOI Corp Berhad.

In 2012, Bunge came under criticism from NGO Survival International for sourcing its sugarcane from the ancestral land of the Guaraní people in Brazil. It has been reported by the tribe that crop production has brought pesticides and machinery that has damaged their health, as well as restricting them to a small area that has prevented them from hunting and practicing their traditions. Also, in January 2003, opposition from the tribe had led to the killing of their chief Marcus Vernon by ranchers. In 2012, survivors were requesting Bunge follows the example of the company Raízen, which agreed to stop the sourcing of sugarcane from the area.

In early June 2017, Bunge hired advisers to help it fend off takeover interest from Glencore in Switzerland.

The company's operations include:

In 2006, the United States Environmental Protection Agency filed charges against Bunge company regarding pollution emissions. This involved twelve soybean processing plants and corn mills in eight states throughout the US. The lawsuit claimed Bunge violated the Clean Air Act by constructing major modifications that increased emissions. Bunge was required to implement engineering changes and pollution control projects, estimated to cost $12 million, to reduce emissions at the facilities by 2,200 tons a year. The settlement also called for Bunge to pay a cash penalty of $625,000 and to spend $1.25 million to fund community-based environmental projects selected by and to be supervised by the impacted states. The state of Kansas will receive $22,000 of the $625,000 civil penalty, this being issued by the Kansas Department of Health and Environment.

Current team as of August 2017:

Former team members:

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-10 Future report Set alerts
Q3 2020 2020-10-28 Future report Set alerts
Q2 2020 2020-07-29 3.88 3.47
Q1 2020 2020-05-06 -1.34 -1.46
Q4 2019 2020-02-12 1.27 -0.48
Q3 2019 2019-10-30 1.41 -10.57
Q2 2019 2019-07-31 1.52 1.43
Q1 2019 2019-05-08 0.36 0.26
Q4 2018 2019-02-21 0.08 -0.51
Q3 2018 2018-10-31 2.52 2.39

Ratings

2016-07-12 Initiated Coverage BB&T Corp. Buy $75.00
2016-06-16 Reiterated Rating Morgan Stanley Hold to Neutral
2016-05-02 Boost Price Target Credit Suisse Outperform $66.00 to $78.00
2016-05-02 Boost Price Target Credit Suisse Group AG Outperform $66.00 to $78.00
2016-04-29 Boost Price Target Citigroup Inc. Buy $75.00 to $80.00
2016-04-22 Downgrade JPMorgan Chase & Co. Overweight to Neutral $57.00
2016-02-16 Lower Price Target Credit Suisse Outperform $85.00 to $66.00
2016-02-12 Upgrade JPMorgan Chase & Co. Neutral to Overweight
2016-01-27 Reiterated Rating Bank of America Neutral $80.00 to $67.00
2016-01-27 Reiterated Rating Bank of America Corp. Neutral $80.00 to $67.00
2016-01-15 Lower Price Target Goldman Sachs $93.00 to $90.00
2016-01-15 Lower Price Target Goldman Sachs Group Inc. $93.00 to $90.00
2015-09-29 Upgrade BMO Capital Markets Market Perform to Outperform $84.00 to $86.00
2015-09-29 Upgrade Credit Suisse Neutral to Outperform $88.00 to $85.00
2015-08-03 Lower Price Target Citigroup Inc. Buy $95.00 to $93.00
2015-07-31 Lower Price Target Scotiabank $91.00 to $88.00
2015-07-07 Initiated Coverage Vertical Research Buy $103.00
2015-07-06 Downgrade BMO Capital Markets Outperform to Market Perform $94.00
2015-06-24 Reiterated Rating Piper Jaffray Overweight $105.00
2015-06-24 Reiterated Rating Piper Jaffray Cos. Overweight $105.00
2015-04-14 Initiated Coverage Stephens Overweight $100.00
2015-03-27 Upgrade Goldman Sachs Neutral to Buy $91.00 to $95.00
2015-02-13 Downgrade Feltl & Co. Buy to Hold
2015-02-13 Reiterated Rating Citigroup Inc. Buy $98.00 to $95.00
2015-02-13 Lower Price Target Miller Tabak Hold $88.00 to $84.00
2015-01-20 Boost Price Target JPMorgan Chase & Co. Neutral $85.00 to $87.00
2014-11-11 Reiterated Rating Bank of America Neutral $95.00
2014-10-28 Downgrade JPMorgan Chase & Co. Overweight to Neutral $87.00
2014-10-14 Reiterated Rating Citigroup Inc. Buy $91.00 to $98.00
2014-10-06 Boost Price Target Piper Jaffray Overweight $95.00 to $112.00
2014-09-12 Boost Price Target Credit Suisse $80.00 to $85.00
2014-08-01 Boost Price Target BMO Capital Markets $87.00 to $94.00
2014-04-22 Reiterated Rating JPMorgan Chase & Co. Overweight $87.00
2013-12-17 Initiated Coverage Macquarie Outperform
2013-10-28 Boost Price Target Barclays Overweight $83.00 to $91.00
2013-10-24 Upgrade Feltl & Co. Hold to Buy
2013-10-24 Downgrade Scotiabank Outperform to Sector Perform $90.00 to $86.00
2013-10-22 Downgrade Miller Tabak Buy to Hold $84.00 to $86.00
2013-10-21 Upgrade Bank of America Neutral to Buy $78.00 to $90.00
2013-10-09 Initiated Coverage Credit Suisse Neutral $82.00
2013-02-08 Downgrade Feltl & Co. Strong Buy to Hold $82 to $74
2012-03-08 Initiated Feltl & Co. Strong Buy $83
2011-03-23 Upgrade Deutsche Bank Hold to Buy $74 to $80
2011-02-11 Reiterated Deutsche Bank Hold $69 to $74
2010-09-24 Reiterated Deutsche Bank Buy $58 to $69
2009-10-05 Reiterated Credit Suisse Neutral $75 to $72
2009-06-22 Reiterated Credit Suisse Neutral $50 to $70
2009-02-06 Reiterated Deutsche Securities Buy $52 to $58
2008-10-23 Upgrade Barclays Capital Underweight to Equal Weight
2008-08-14 Initiated Lehman Brothers Underweight $97
2008-06-24 Reiterated Davenport Buy $140 to $160
2008-04-25 Reiterated BMO Capital Markets Outperform $127 to $133
2008-04-01 Upgrade BMO Capital Markets Market Perform to Outperform
2008-03-19 Upgrade JP Morgan Neutral to Overweight
2016-07-12 Initiated Coverage BB&T Corp. Buy $75.00
2016-06-16 Reiterated Rating Morgan Stanley Hold to Neutral
2016-05-02 Boost Price Target Credit Suisse Outperform $66.00 to $78.00
2016-05-02 Boost Price Target Credit Suisse Group AG Outperform $66.00 to $78.00
2016-04-29 Boost Price Target Citigroup Inc. Buy $75.00 to $80.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
DE LA TOUR DAUVERGNE LAURAGUAIS BERNARD P 0.31%  (445949) BG /
WEISSER ALBERTO Executive Chairman 0.08%  (117599) BG / PEP /
Schroder Soren Chief Executive Officer 0.06%  (88383) BG /
BACHRACH ERNEST 0.06%  (81625) BG /
Padilla Raul CEO, Bunge Global Agribusiness 0.05%  (71852) BG /
BOILINI ENRIQUE HORACIO 0.05%  (68667) BG /
COPPINGER FRANCIS 0.04%  (53396) BG /
BURKE ANDREW Chief Financial Officer 0.03%  (43394) BG /
Thomsen Brian See Remarks below 0.03%  (40349) BG /
Lupo L Patrick 0.03%  (39031) BG /
ENGELS WILLIAM 0.02%  (25446) BG /
Hardie Gordon MD, Food & Ingredients 0.01%  (21070) BG / OI /
Teixeira Vicente Chief Personnel Officer 0.01%  (19887) BG /
Borg Deborah Chief Human Resources Officer 0.01%  (15970) BG /
Simmons Jerry Matthews JR See Remarks 0.01%  (14190) BG /
HYLE KATHLEEN W 0.01%  (13585) ABC / ADT / BG /
Jimenez Frank R General Counsel and Secy 0.01%  (13313) BG / RTN / XYL /
Ferrier Andrew 0.01%  (12642) BG /
Browner Carol M. 0.01%  (11398) BG /
Roebuck Karen Controller 0.01%  (11384) BG /
MCGLADE JOHN E 0.01%  (7546) APD / BG / GT /
Mauger Pierre See Remarks 0.01%  (7493) BG /

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