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Bunge Limited (NYSE:BG) Shares Bought by Waterfront Wealth Inc.

Financial News Live · Jan 15, 2023 11:01

Waterfront Wealth Inc. grew its holdings in Bunge Limited (NYSE:BG – Get Rating) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,982 shares of the basic materials company's stock after buying an additional 1,326 shares during the quarter. Waterfront Wealth Inc.'s holdings in Bunge were worth $798,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BG. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Bunge by 12.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 17,858 shares of the basic materials company's stock valued at $1,979,000 after buying an additional 1,994 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Bunge in the 1st quarter valued at approximately $494,000. Yousif Capital Management LLC lifted its holdings in shares of Bunge by 6.5% in the 1st quarter. Yousif Capital Management LLC now owns 8,767 shares of the basic materials company's stock valued at $971,000 after buying an additional 535 shares during the period. Prudential PLC acquired a new stake in shares of Bunge in the 1st quarter valued at approximately $530,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Bunge by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company's stock valued at $1,563,069,000 after buying an additional 696,806 shares during the period. 82.62% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group started coverage on Bunge in a report on Tuesday, December 13th. They issued a "buy" rating and a $133.00 price target for the company. StockNews.com raised Bunge from a "hold" rating to a "buy" rating in a research note on Thursday, October 27th. TheStreet raised Bunge from a "c+" rating to a "b" rating in a research note on Wednesday, October 26th. Finally, Bank of America dropped their price objective on Bunge from $138.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, October 24th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $126.57.

Insider Activity at Bunge

In related news, insider Julio Garros sold 1,017 shares of Bunge stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $103.90, for a total value of $105,666.30. Following the transaction, the insider now owns 53,780 shares in the company, valued at $5,587,742. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

Bunge Stock Performance

Bunge stock opened at $100.42 on Friday. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 10.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 1.63. Bunge Limited has a fifty-two week low of $80.41 and a fifty-two week high of $128.40. The stock has a fifty day moving average of $98.74 and a two-hundred day moving average of $94.82.

Bunge (NYSE:BG – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The basic materials company reported $3.45 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $1.01. The business had revenue of $16.76 billion during the quarter, compared to the consensus estimate of $15.73 billion. Bunge had a return on equity of 25.11% and a net margin of 2.22%. The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.72 earnings per share. On average, analysts anticipate that Bunge Limited will post 13.91 EPS for the current fiscal year.

Bunge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Thursday, February 16th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, February 15th. Bunge's payout ratio is currently 25.43%.

Bunge 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.