Pacer Advisors Inc. Takes Position in Bunge Limited (BG)
Pacer Advisors Inc. bought a new stake in Bunge Limited (NYSE:BG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,532 shares of the basic materials company’s stock, valued at approximately $338,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. CGOV Asset Management lifted its stake in Bunge Limited by 11.7% in the first quarter. CGOV Asset Management now owns 18,650 shares of the basic materials company’s stock valued at $1,969,000 after acquiring an additional 1,950 shares during the last quarter. Shell Asset Management Co. lifted its stake in Bunge Limited by 6.7% in the first quarter. Shell Asset Management Co. now owns 8,265 shares of the basic materials company’s stock valued at $655,000 after acquiring an additional 517 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Bunge Limited by 42.5% in the first quarter. Wells Fargo & Company MN now owns 417,936 shares of the basic materials company’s stock valued at $33,127,000 after acquiring an additional 124,661 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Bunge Limited by 10.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,907 shares of the basic materials company’s stock valued at $468,000 after acquiring an additional 578 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Bunge Limited by 88.6% in the first quarter. Advisors Asset Management Inc. now owns 24,885 shares of the basic materials company’s stock valued at $1,972,000 after acquiring an additional 11,688 shares during the last quarter. 80.36% of the stock is owned by institutional investors and hedge funds.
Shares of Bunge Limited (BG) opened at 75.75 on Tuesday. The stock’s 50 day moving average is $76.68 and its 200-day moving average is $77.27. The firm has a market cap of $10.65 billion, a PE ratio of 21.66 and a beta of 1.04. Bunge Limited has a 1-year low of $58.19 and a 1-year high of $83.75.
Bunge Limited (NYSE:BG) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $11.65 billion during the quarter, compared to analyst estimates of $10.88 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Analysts expect that Bunge Limited will post $3.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.43%. Bunge Limited’s payout ratio is 53.64%.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $80.00, for a total value of $210,880.00. Following the completion of the sale, the insider now owns 20,214 shares in the company, valued at approximately $1,617,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
BG has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Credit Suisse Group reiterated a “hold” rating and issued a $80.00 price target on shares of Bunge Limited in a research note on Thursday, May 25th. BMO Capital Markets reiterated a “buy” rating on shares of Bunge Limited in a research note on Monday, May 15th. BidaskClub cut shares of Bunge Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 price target on shares of Bunge Limited in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.71.
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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