Panagora Asset Management Inc. grew its holdings in Bunge Ltd (NYSE:BG) by 14.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,313 shares of the basic materials company’s stock after purchasing an additional 2,570 shares during the period. Panagora Asset Management Inc.’s holdings in Bunge were worth $1,131,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in BG. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Bunge by 108.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232,382 shares of the basic materials company’s stock worth $12,804,000 after acquiring an additional 120,761 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of Bunge by 3,416.1% during the second quarter. CENTRAL TRUST Co now owns 6,540 shares of the basic materials company’s stock worth $370,000 after acquiring an additional 6,354 shares in the last quarter. Maso Capital Partners Ltd raised its holdings in shares of Bunge by 49.0% during the first quarter. Maso Capital Partners Ltd now owns 134,271 shares of the basic materials company’s stock worth $7,126,000 after acquiring an additional 44,171 shares in the last quarter. ARP Americas LP purchased a new stake in shares of Bunge during the second quarter worth $1,794,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Bunge during the second quarter worth $587,000. Institutional investors own 79.88% of the company’s stock.
Several analysts recently issued reports on the company. TheStreet upgraded Bunge from a “c+” rating to a “b” rating in a report on Wednesday, July 31st. Zacks Investment Research lowered Bunge from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $71.50.
In related news, Director Grain Co Continental bought 20,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $52.27 per share, for a total transaction of $1,045,400.00. Following the completion of the acquisition, the director now directly owns 3,931,155 shares in the company, valued at $205,481,471.85. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.18% of the stock is owned by company insiders.
NYSE BG traded down $0.01 during trading on Thursday, hitting $57.96. 17,389 shares of the company traded hands, compared to its average volume of 1,454,834. Bunge Ltd has a 12 month low of $47.26 and a 12 month high of $72.35. The business has a fifty day simple moving average of $55.27 and a 200 day simple moving average of $53.92. The company has a current ratio of 1.49, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $8.21 billion, a P/E ratio of 21.31 and a beta of 0.88.
Bunge (NYSE:BG) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $1.20. Bunge had a return on equity of 11.39% and a net margin of 1.30%. The company had revenue of $10.10 billion for the quarter, compared to analyst estimates of $12 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was down 16.9% compared to the same quarter last year. Equities research analysts predict that Bunge Ltd will post 3.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.45%. Bunge’s dividend payout ratio (DPR) is currently 73.53%.
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.
Further Reading: Price-Sales Ratio
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