BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Bunge Ltd (NYSE:BG) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,803 shares of the basic materials company’s stock after acquiring an additional 4,174 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bunge were worth $2,555,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Man Group plc grew its position in Bunge by 55.7% during the third quarter. Man Group plc now owns 111,117 shares of the basic materials company’s stock valued at $7,635,000 after acquiring an additional 39,772 shares during the period. Robecosam AG lifted its stake in shares of Bunge by 3.4% during the fourth quarter. Robecosam AG now owns 23,906 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 795 shares in the last quarter. First National Trust Co lifted its stake in shares of Bunge by 27.6% during the fourth quarter. First National Trust Co now owns 23,058 shares of the basic materials company’s stock worth $1,232,000 after purchasing an additional 4,984 shares in the last quarter. Litespeed Management L.L.C. lifted its stake in shares of Bunge by 96.9% during the third quarter. Litespeed Management L.L.C. now owns 96,500 shares of the basic materials company’s stock worth $6,631,000 after purchasing an additional 47,500 shares in the last quarter. Finally, North Fourth Asset Management LP acquired a new position in shares of Bunge during the third quarter worth about $5,531,000. 81.50% of the stock is owned by hedge funds and other institutional investors.
NYSE:BG opened at $52.86 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.72 and a current ratio of 1.54. Bunge Ltd has a one year low of $48.89 and a one year high of $76.95. The stock has a market capitalization of $7.46 billion, a P/E ratio of 19.43 and a beta of 0.93.
Bunge (NYSE:BG) last released its quarterly earnings results on Thursday, February 21st. The basic materials company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.11). Bunge had a return on equity of 6.79% and a net margin of 0.58%. The business had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Bunge Ltd will post 2.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, May 17th. Bunge’s dividend payout ratio (DPR) is 73.53%.
A number of research analysts have commented on the company. ValuEngine cut Bunge from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. BMO Capital Markets restated an “outperform” rating on shares of Bunge in a research note on Friday, February 22nd. Zacks Investment Research cut Bunge from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Morgan Stanley reduced their price objective on Bunge from $84.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, February 25th. Finally, Credit Suisse Group restated an “outperform” rating and set a $77.00 price objective on shares of Bunge in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Bunge has a consensus rating of “Hold” and a consensus target price of $74.67.
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Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.
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