Bunge Limited (BG) Stake Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Bunge Limited (NYSE:BG) by 21.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,301 shares of the basic materials company’s stock after buying an additional 15,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Bunge Limited worth $6,363,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in BG. BlackRock Inc. boosted its stake in Bunge Limited by 1,532.8% in the first quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock valued at $633,427,000 after buying an additional 7,502,326 shares during the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new stake in Bunge Limited during the second quarter valued at about $86,883,000. Vanguard Group Inc. boosted its stake in Bunge Limited by 9.0% in the first quarter. Vanguard Group Inc. now owns 13,226,070 shares of the basic materials company’s stock valued at $1,048,298,000 after buying an additional 1,095,696 shares during the last quarter. AQR Capital Management LLC boosted its stake in Bunge Limited by 101.8% in the first quarter. AQR Capital Management LLC now owns 2,026,586 shares of the basic materials company’s stock valued at $160,627,000 after buying an additional 1,022,468 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Bunge Limited during the first quarter valued at about $55,314,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Shares of Bunge Limited (NYSE:BG) opened at 74.95 on Friday. The firm’s 50 day moving average is $77.55 and its 200-day moving average is $76.84. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The firm has a market capitalization of $10.54 billion, a PE ratio of 21.43 and a beta of 1.02.
Bunge Limited (NYSE:BG) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.07. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The company had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $10.88 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts expect that Bunge Limited will post $3.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, November 17th. Bunge Limited’s dividend payout ratio is currently 48.98%.
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BG has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Stephens cut shares of Bunge Limited from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 3rd. Credit Suisse Group restated a “hold” rating and set a $80.00 price objective on shares of Bunge Limited in a research report on Thursday, May 25th. BMO Capital Markets restated a “buy” rating on shares of Bunge Limited in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co upgraded shares of Bunge Limited from an “underweight” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $84.83.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $80.00, for a total transaction of $210,880.00. Following the completion of the transaction, the insider now owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
About Bunge Limited
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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