Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Bunge Ltd (NYSE:BG) by 61.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,149 shares of the basic materials company’s stock after selling 179,215 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Bunge worth $7,568,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BG. Principal Financial Group Inc. boosted its holdings in Bunge by 11.0% in the 1st quarter. Principal Financial Group Inc. now owns 95,294 shares of the basic materials company’s stock worth $7,046,000 after buying an additional 9,447 shares during the period. Aperio Group LLC boosted its holdings in Bunge by 17.1% in the 2nd quarter. Aperio Group LLC now owns 62,973 shares of the basic materials company’s stock worth $4,390,000 after buying an additional 9,207 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Bunge in the 2nd quarter worth $896,000. Aviva PLC boosted its holdings in Bunge by 25.7% in the 2nd quarter. Aviva PLC now owns 89,513 shares of the basic materials company’s stock worth $6,239,000 after buying an additional 18,300 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Bunge by 67.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock worth $86,718,000 after buying an additional 502,598 shares during the period. Institutional investors own 79.66% of the company’s stock.
Shares of BG stock opened at $59.47 on Friday. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 30.65 and a beta of 1.12. Bunge Ltd has a 52 week low of $56.14 and a 52 week high of $83.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 1.58.
Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, October 31st. The basic materials company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.39 by $0.13. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Bunge had a net margin of 0.59% and a return on equity of 7.84%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. As a group, equities analysts expect that Bunge Ltd will post 4.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Tuesday, February 19th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.36%. Bunge’s payout ratio is currently 103.09%.
Several brokerages recently weighed in on BG. ValuEngine downgraded shares of Bunge from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Zacks Investment Research downgraded shares of Bunge from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. BMO Capital Markets dropped their target price on shares of Bunge from $87.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Finally, Citigroup dropped their target price on shares of Bunge from $92.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Bunge has a consensus rating of “Hold” and an average target price of $78.40.
In related news, CFO Thomas Boehlert purchased 3,200 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $62.68 per share, for a total transaction of $200,576.00. Following the purchase, the chief financial officer now directly owns 3,200 shares in the company, valued at $200,576. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Grain Co Continental purchased 155,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was bought at an average price of $63.53 per share, for a total transaction of $9,847,150.00. Following 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. In the last quarter, insiders acquired 333,200 shares of company stock worth $20,357,881. Corporate insiders own 1.25% of the company’s stock.
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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