Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Bunge Ltd (NYSE:BG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,850 shares of the basic materials company’s stock, valued at approximately $896,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BG. Marathon Asset Management LLP raised its stake in shares of Bunge by 6.8% in the second quarter. Marathon Asset Management LLP now owns 1,224,440 shares of the basic materials company’s stock valued at $85,356,000 after purchasing an additional 77,556 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Bunge by 5.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 15,499 shares of the basic materials company’s stock valued at $1,080,000 after purchasing an additional 800 shares in the last quarter. Aperio Group LLC raised its stake in shares of Bunge by 17.1% in the second quarter. Aperio Group LLC now owns 62,973 shares of the basic materials company’s stock valued at $4,390,000 after purchasing an additional 9,207 shares in the last quarter. First National Trust Co raised its stake in shares of Bunge by 136.0% in the second quarter. First National Trust Co now owns 13,903 shares of the basic materials company’s stock valued at $970,000 after purchasing an additional 8,013 shares in the last quarter. Finally, AMG Funds LLC raised its stake in shares of Bunge by 6.3% in the second quarter. AMG Funds LLC now owns 21,928 shares of the basic materials company’s stock valued at $1,529,000 after purchasing an additional 1,301 shares in the last quarter. 79.95% of the stock is owned by institutional investors and hedge funds.
Bunge stock opened at $63.04 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 0.71. Bunge Ltd has a 52-week low of $61.28 and a 52-week high of $83.20. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 32.49 and a beta of 1.12.
Bunge (NYSE:BG) last released its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.94). The business had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $12.03 billion. During the same period in the prior year, the company earned $0.17 EPS. Bunge’s quarterly revenue was up 4.3% on a year-over-year basis. equities analysts anticipate that Bunge Ltd will post 5.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, November 16th. This represents a $2.00 annualized dividend and a yield of 3.17%. Bunge’s dividend payout ratio is currently 94.85%.
In other Bunge news, insider Jerry Matthews Simmons, Jr. sold 4,122 shares of the stock in a transaction on Monday, June 4th. The stock was sold at an average price of $70.30, for a total transaction of $289,776.60. Following the completion of the transaction, the insider now directly owns 10,068 shares in the company, valued at $707,780.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.25% of the company’s stock.
A number of research analysts recently commented on BG shares. JPMorgan Chase & Co. upgraded Bunge to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, July 9th. Zacks Investment Research upgraded Bunge from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday, July 24th. Citigroup upped their target price on Bunge to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 3rd. Credit Suisse Group cut their target price on Bunge from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 3rd. Finally, ValuEngine lowered Bunge from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $81.14.
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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