Cadence Capital Management LLC reduced its stake in shares of Bunge Ltd (NYSE:BG) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,239 shares of the basic materials company’s stock after selling 13,738 shares during the quarter. Bunge accounts for 0.7% of Cadence Capital Management LLC’s portfolio, making the stock its 25th largest position. Cadence Capital Management LLC’s holdings in Bunge were worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in BG. Wellington Management Group LLP raised its stake in Bunge by 69.3% during the first quarter. Wellington Management Group LLP now owns 59,540 shares of the basic materials company’s stock worth $2,442,000 after acquiring an additional 24,378 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Bunge by 64.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,300 shares of the basic materials company’s stock worth $546,000 after purchasing an additional 5,200 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Bunge by 7.1% during the first quarter. Geode Capital Management LLC now owns 1,635,606 shares of the basic materials company’s stock worth $67,054,000 after purchasing an additional 107,844 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Bunge by 26.2% during the first quarter. Wells Fargo & Company MN now owns 451,815 shares of the basic materials company’s stock worth $18,538,000 after purchasing an additional 93,726 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Bunge during the first quarter worth $1,136,000. Hedge funds and other institutional investors own 77.78% of the company’s stock.
Several research firms recently issued reports on BG. TheStreet upgraded Bunge from a “d+” rating to a “c-” rating in a report on Wednesday, September 9th. Stephens reiterated a “buy” rating and issued a $74.00 price target on shares of Bunge in a report on Thursday, June 25th. Zacks Investment Research cut Bunge from a “buy” rating to a “hold” rating in a report on Friday, August 21st. ValuEngine cut Bunge from a “hold” rating to a “sell” rating in a report on Tuesday, September 1st. Finally, Credit Suisse Group raised their price target on Bunge from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $57.17.
NYSE:BG traded up $0.38 during mid-day trading on Friday, hitting $54.59. The company had a trading volume of 1,532,371 shares, compared to its average volume of 1,338,012. Bunge Ltd has a fifty-two week low of $29.00 and a fifty-two week high of $58.19. The business’s fifty day moving average is $47.06 and its two-hundred day moving average is $42.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.53. The firm has a market cap of $7.62 billion, a P/E ratio of -6.04 and a beta of 0.81.
Bunge (NYSE:BG) last released its earnings results on Wednesday, July 29th. The basic materials company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $1.31 by $2.57. Bunge had a positive return on equity of 17.50% and a negative net margin of 3.07%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.69 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts forecast that Bunge Ltd will post 3.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, November 17th. Bunge’s payout ratio is 43.67%.
In other Bunge news, Director Vinita Bali purchased 1,200 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $46.17 per share, with a total value of $55,404.00. Following the completion of the transaction, the director now directly owns 9,672 shares in the company, valued at approximately $446,556.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.67% of the company’s stock.
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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