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Wedbush Securities Inc. Sells 317 Shares of Bunge Limited (NYSE:BG)

Defense World ·  10/05 17:32

Wedbush Securities Inc. lessened its holdings in shares of Bunge Limited (NYSE:BG – Get Rating) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,369 shares of the basic materials company's stock after selling 317 shares during the quarter. Wedbush Securities Inc.'s holdings in Bunge were worth $487,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Corbenic Partners LLC bought a new position in shares of Bunge in the 1st quarter worth $34,000. Pinnacle Holdings LLC bought a new position in Bunge in the first quarter valued at $36,000. Sugarloaf Wealth Management LLC purchased a new stake in Bunge during the second quarter valued at about $32,000. MV Capital Management Inc. bought a new stake in Bunge during the first quarter worth about $43,000. Finally, Riverview Trust Co boosted its holdings in shares of Bunge by 100.5% in the 1st quarter. Riverview Trust Co now owns 391 shares of the basic materials company's stock worth $43,000 after purchasing an additional 196 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors.

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Bunge Stock Performance

Shares of BG stock opened at $88.13 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.71 and a current ratio of 1.51. Bunge Limited has a fifty-two week low of $80.41 and a fifty-two week high of $128.40. The stock has a 50 day moving average price of $94.35 and a two-hundred day moving average price of $102.43. The company has a market capitalization of $13.39 billion, a P/E ratio of 7.58, a PEG ratio of 0.98 and a beta of 0.63.

Bunge (NYSE:BG – Get Rating) last announced its earnings results on Wednesday, July 27th. The basic materials company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.40 by ($0.43). The business had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $18.64 billion. Bunge had a net margin of 2.73% and a return on equity of 27.43%. Bunge's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.61 EPS. Analysts expect that Bunge Limited will post 12.65 earnings per share for the current year.

Bunge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.84%. Bunge's dividend payout ratio is presently 21.51%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BG. Bank of America upgraded Bunge from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $140.00 to $135.00 in a research report on Thursday, June 30th. JPMorgan Chase & Co. upgraded Bunge from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $130.00 to $106.00 in a research report on Thursday, July 7th. TheStreet downgraded Bunge from a "b" rating to a "c+" rating in a research report on Wednesday, July 27th. StockNews.com downgraded Bunge from a "buy" rating to a "hold" rating in a research report on Thursday, July 28th. Finally, Credit Suisse Group dropped their target price on Bunge from $140.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, June 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bunge presently has a consensus rating of "Moderate Buy" and an average target price 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.

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