Bunge Ltd. (BG) Position Boosted by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. boosted its position in Bunge Ltd. (NYSE:BG) by 51.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,200 shares of the company’s stock after buying an additional 10,300 shares during the period. Icon Advisers Inc. Co.’s holdings in Bunge were worth $1,789,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of BG. First Republic Investment Management Inc. raised its position in shares of Bunge by 0.6% in the first quarter. First Republic Investment Management Inc. now owns 16,037 shares of the company’s stock worth $909,000 after buying an additional 100 shares during the last quarter. CenturyLink Investment Management Co raised its position in shares of Bunge by 23.4% in the second quarter. CenturyLink Investment Management Co now owns 26,470 shares of the company’s stock worth $1,566,000 after buying an additional 5,027 shares during the last quarter. DNB Asset Management AS purchased a new position in shares of Bunge during the second quarter worth $601,000. American National Bank purchased a new position in shares of Bunge during the second quarter worth $2,664,000. Finally, Neville Rodie & Shaw Inc. raised its position in shares of Bunge by 9.1% in the second quarter. Neville Rodie & Shaw Inc. now owns 39,060 shares of the company’s stock worth $2,310,000 after buying an additional 3,250 shares during the last quarter. 79.36% of the stock is currently owned by institutional investors.
Shares of Bunge Ltd. (NYSE:BG) traded up 0.96% on Tuesday, reaching $67.11. The company’s stock had a trading volume of 800,702 shares. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 14.94 and a beta of 0.97. Bunge Ltd. has a 52-week low of $46.08 and a 52-week high of $70.53. The stock has a 50-day moving average of $64.37 and a 200 day moving average of $62.88.
Bunge (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.08. The business earned $11.42 billion during the quarter, compared to the consensus estimate of $8.19 billion. Bunge had a return on equity of 10.38% and a net margin of 1.58%. Bunge’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. On average, equities research analysts forecast that Bunge Ltd. will post $4.57 earnings per share for the current year.
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BG has been the topic of a number of research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $72.00 target price on shares of Bunge in a research report on Monday, August 1st. Zacks Investment Research downgraded Bunge from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Bank of America Corp. upgraded Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. Finally, TheStreet upgraded Bunge from a “hold” rating to a “buy” rating in a report on Monday, November 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.13.
Bunge Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The Edible oil products and milling products segments include businesses that produce and sell edible oil based products, including vegetable oils, shortenings, margarines and mayonnaise, and milled grain products, such as wheat flours, corn-based products and rice.
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