Assenagon Asset Management S.A. increased its position in shares of Bunge Limited (NYSE:BG – Get Rating) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,488 shares of the basic materials company's stock after purchasing an additional 6,709 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Bunge were worth $2,187,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of BG. Spire Wealth Management lifted its position in Bunge by 180.0% during the second quarter. Spire Wealth Management now owns 280 shares of the basic materials company's stock worth $25,000 after purchasing an additional 180 shares during the period. Venture Visionary Partners LLC acquired a new position in Bunge during the second quarter worth about $27,000. Sugarloaf Wealth Management LLC acquired a new position in Bunge during the second quarter worth about $32,000. Pinnacle Holdings LLC acquired a new position in Bunge during the first quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Bunge during the second quarter worth about $54,000. Institutional investors own 82.62% of the company's stock.
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Insiders Place Their Bets
In other Bunge news, insider Julio Garros sold 1,017 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $103.90, for a total transaction of $105,666.30. Following the transaction, the insider now directly owns 53,780 shares in the company, valued at approximately $5,587,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company's stock.
Bunge Stock Performance
Shares of BG stock opened at $98.46 on Thursday. The business's 50 day simple moving average is $98.69 and its 200 day simple moving average is $94.68. Bunge Limited has a one year low of $80.41 and a one year high of $128.40. The stock has a market capitalization of $14.75 billion, a PE ratio of 10.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.63 and a quick ratio of 0.86.
Bunge (NYSE:BG – Get Rating) last announced its earnings results on Wednesday, October 26th. The basic materials company reported $3.45 EPS for the quarter, beating the consensus estimate of $2.44 by $1.01. The business had revenue of $16.76 billion for the quarter, compared to analysts' expectations of $15.73 billion. Bunge had a return on equity of 25.11% and a net margin of 2.22%. The firm's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.72 earnings per share. As a group, research analysts forecast that Bunge Limited will post 13.89 earnings per share for the current year.
Bunge Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. Shareholders of record on Thursday, February 16th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, February 15th. Bunge's payout ratio is 25.43%.
Analysts Set New Price Targets
Several research analysts have commented on the company. TheStreet raised Bunge from a "c+" rating to a "b" rating in a research note on Wednesday, October 26th. Bank of America lowered their target price on Bunge from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, October 24th. StockNews.com raised Bunge from a "hold" rating to a "buy" rating in a research note on Thursday, October 27th. Finally, UBS Group began coverage on Bunge in a research note on Tuesday, December 13th. They set a "buy" rating and a $133.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.25.
About Bunge
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Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 processes oilseeds into vegetable oils and protein meals.
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