CIBC World Markets Inc. bought a new stake in Bunge Limited (NYSE:BG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,000 shares of the basic materials company’s stock, valued at approximately $373,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clinton Group Inc. grew its holdings in Bunge Limited by 243.7% in the 1st quarter. Clinton Group Inc. now owns 65,349 shares of the basic materials company’s stock valued at $5,180,000 after buying an additional 46,338 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Bunge Limited by 52.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 810,842 shares of the basic materials company’s stock valued at $60,489,000 after buying an additional 279,307 shares during the last quarter. Aviva PLC grew its holdings in Bunge Limited by 0.7% in the 2nd quarter. Aviva PLC now owns 87,275 shares of the basic materials company’s stock valued at $6,512,000 after buying an additional 610 shares during the last quarter. Paloma Partners Management Co grew its holdings in Bunge Limited by 284.6% in the 1st quarter. Paloma Partners Management Co now owns 45,877 shares of the basic materials company’s stock valued at $3,636,000 after buying an additional 33,948 shares during the last quarter. Finally, AXA grew its holdings in Bunge Limited by 46.6% in the 1st quarter. AXA now owns 315,930 shares of the basic materials company’s stock valued at $25,040,000 after buying an additional 100,370 shares during the last quarter. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on BG shares. Credit Suisse Group set a $90.00 target price on Bunge Limited and gave the company a “buy” rating in a report on Tuesday, July 18th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 target price on shares of Bunge Limited in a report on Tuesday, September 5th. Zacks Investment Research downgraded Bunge Limited from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. BidaskClub downgraded Bunge Limited from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Vertical Group downgraded Bunge Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Bunge Limited currently has a consensus rating of “Hold” and a consensus target price of $83.71.
Shares of Bunge Limited (NYSE:BG) opened at 71.47 on Thursday. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The firm has a 50 day moving average price of $75.41 and a 200-day moving average price of $76.87. The company has a market cap of $10.05 billion, a P/E ratio of 20.43 and a beta of 1.04.
Bunge Limited (NYSE:BG) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.07. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The business had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $10.88 billion. During the same quarter last year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts anticipate that Bunge Limited will post $3.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.57%. Bunge Limited’s dividend payout ratio is currently 53.64%.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of Bunge Limited stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.00, for a total transaction of $210,880.00. Following the transaction, the insider now owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.
About Bunge Limited
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.
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