Bank of America Corp DE raised its holdings in shares of Bunge Limited (NYSE:BG – Get Rating) by 298.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 469,433 shares of the basic materials company's stock after acquiring an additional 351,741 shares during the period. Bank of America Corp DE owned approximately 0.31% of Bunge worth $52,017,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Neuberger Berman Group LLC increased its holdings in shares of Bunge by 51.0% during the 1st quarter. Neuberger Berman Group LLC now owns 343,858 shares of the basic materials company's stock valued at $38,103,000 after purchasing an additional 116,197 shares in the last quarter. Toroso Investments LLC increased its holdings in shares of Bunge by 229.6% during the 1st quarter. Toroso Investments LLC now owns 17,957 shares of the basic materials company's stock valued at $1,990,000 after purchasing an additional 12,509 shares in the last quarter. Capital World Investors increased its holdings in shares of Bunge by 6.2% during the 1st quarter. Capital World Investors now owns 17,109,705 shares of the basic materials company's stock valued at $1,895,926,000 after purchasing an additional 1,006,276 shares in the last quarter. Capital International Sarl increased its holdings in shares of Bunge by 15.9% during the 1st quarter. Capital International Sarl now owns 63,450 shares of the basic materials company's stock valued at $7,031,000 after purchasing an additional 8,694 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in Bunge in the 1st quarter worth $286,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.
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Shares of BG opened at $82.21 on Wednesday. The firm's fifty day moving average is $95.21 and its two-hundred day moving average is $103.22. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.33. The stock has a market cap of $12.49 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. Bunge Limited has a 52-week low of $79.91 and a 52-week high of $128.40.
Bunge (NYSE:BG – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.40 by ($0.43). The firm had revenue of $17.93 billion for the quarter, compared to analyst estimates of $18.64 billion. Bunge had a net margin of 2.73% and a return on equity of 27.43%. The company's revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 EPS. Research analysts forecast that Bunge Limited will post 12.65 earnings per share for the current fiscal year.Bunge Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, November 17th. This represents a $2.50 annualized dividend and a dividend yield of 3.04%. Bunge's payout ratio is 21.51%.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Bunge from a "buy" rating to a "hold" rating in a report on Thursday, July 28th. Credit Suisse Group cut their price target on shares of Bunge from $140.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, June 24th. Monness Crespi & Hardt assumed coverage on shares of Bunge in a report on Wednesday, July 6th. They issued a "buy" rating and a $130.00 price target for the company. Wolfe Research assumed coverage on shares of Bunge in a report on Friday, August 12th. They issued an "outperform" rating and a $127.00 price target for the company. Finally, TheStreet lowered shares of Bunge from a "b" rating to a "c+" rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Bunge currently has a consensus rating of "Moderate Buy" and an average price target of $118.67.
Bunge Company Profile
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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.
Further Reading
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