United Services Automobile Association lessened its stake in shares of Bunge Ltd (NYSE:BG) by 23.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,793 shares of the basic materials company’s stock after selling 57,074 shares during the period. United Services Automobile Association owned approximately 0.13% of Bunge worth $12,628,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Bunge by 41.4% during the 2nd quarter. BlackRock Inc. now owns 12,076,742 shares of the basic materials company’s stock valued at $841,871,000 after acquiring an additional 3,535,679 shares during the period. ING Groep NV acquired a new stake in Bunge during the 2nd quarter valued at approximately $64,707,000. Renaissance Technologies LLC lifted its stake in Bunge by 81.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,429,997 shares of the basic materials company’s stock valued at $99,685,000 after acquiring an additional 641,597 shares during the period. Wells Fargo & Company MN lifted its stake in Bunge by 67.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock valued at $86,718,000 after acquiring an additional 502,598 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Bunge by 753.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 540,719 shares of the basic materials company’s stock valued at $37,153,000 after acquiring an additional 477,370 shares during the period. 79.66% of the stock is currently owned by institutional investors.
BG has been the subject of several research reports. Citigroup decreased 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 decreased 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. Zacks Investment Research cut shares of Bunge from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Finally, ValuEngine upgraded shares of Bunge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Bunge presently has a consensus rating of “Hold” and a consensus target price of $78.40.
BG opened at $59.47 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.58 and a debt-to-equity ratio of 0.85. Bunge Ltd has a 1 year low of $56.14 and a 1 year high of $83.20. The firm has a market capitalization of $8.25 billion, a P/E ratio of 30.65 and a beta of 1.12.
Bunge (NYSE:BG) last posted its earnings results on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.13. Bunge had a net margin of 0.59% and a return on equity of 7.84%. The firm had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period in the previous year, the business posted $0.75 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Bunge Ltd will post 4.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Tuesday, February 19th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.36%. Bunge’s dividend payout ratio is currently 103.09%.
In other news, Director L Patrick Lupo bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average cost of $62.71 per share, for a total transaction of $188,130.00. Following the purchase, the director now directly owns 46,024 shares in the company, valued at approximately $2,886,165.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Grain Co Continental bought 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was purchased at an average price of $63.53 per share, with a total value of $9,847,150.00. Following the completion of the purchase, the director now owns 3,319,038 shares in the company, valued at $210,858,484.14. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 333,200 shares of company stock valued at $20,357,881. Company insiders own 1.25% of the company’s stock.
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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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