Clarus Wealth Advisors cut its holdings in Bunge Ltd (NYSE:BG) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,661 shares of the basic materials company’s stock after selling 1,389 shares during the period. Clarus Wealth Advisors’ holdings in Bunge were worth $89,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in Bunge by 8.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 42,041 shares of the basic materials company’s stock worth $2,931,000 after purchasing an additional 3,163 shares during the last quarter. First Manhattan Co. bought a new position in Bunge during the 3rd quarter worth approximately $604,000. First Hawaiian Bank bought a new position in Bunge during the 3rd quarter worth approximately $273,000. Andra AP fonden raised its holdings in Bunge by 90.9% during the 3rd quarter. Andra AP fonden now owns 61,100 shares of the basic materials company’s stock worth $4,198,000 after purchasing an additional 29,100 shares during the last quarter. Finally, Cutler Capital Management LLC bought a new stake in shares of Bunge in the 3rd quarter valued at $206,000. Institutional investors own 82.22% of the company’s stock.
In related news, Director Grain Co Continental acquired 170,000 shares of the stock in a transaction dated Friday, November 16th. The stock was bought at an average price of $58.80 per share, for a total transaction of $9,996,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.25% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Tuesday, February 19th will be paid a $0.50 dividend. The ex-dividend date is Friday, February 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.76%. Bunge’s dividend payout ratio is currently 103.09%.
Several analysts have recently weighed in on BG shares. Citigroup lowered their price objective on shares of Bunge from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. BMO Capital Markets lowered their price objective on shares of Bunge from $87.00 to $83.00 and set an “outperform” rating for the company in a research note on Thursday, November 1st. Credit Suisse Group set a $70.00 price objective on shares of Bunge and gave the company an “outperform” rating in a research note on Wednesday, January 23rd. Zacks Investment Research lowered shares of Bunge from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Finally, ValuEngine upgraded shares of Bunge from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $76.60.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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