Wells Fargo & Company MN Increases Position in Bunge Limited (BG)
Wells Fargo & Company MN lifted its stake in shares of Bunge Limited (NYSE:BG) by 87.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 783,708 shares of the basic materials company’s stock after purchasing an additional 365,772 shares during the quarter. Wells Fargo & Company MN owned 0.56% of Bunge Limited worth $58,465,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. IndexIQ Advisors LLC grew its holdings in Bunge Limited by 0.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 3,242 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 27 shares during the last quarter. Rothschild Asset Management Inc. grew its holdings in Bunge Limited by 1.3% during the 2nd quarter. Rothschild Asset Management Inc. now owns 6,170 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 81 shares during the last quarter. Probity Advisors Inc. lifted its position in shares of Bunge Limited by 0.5% in the 1st quarter. Probity Advisors Inc. now owns 21,757 shares of the basic materials company’s stock worth $1,724,000 after purchasing an additional 103 shares during the period. Great Lakes Advisors LLC lifted its position in shares of Bunge Limited by 1.8% in the 1st quarter. Great Lakes Advisors LLC now owns 6,934 shares of the basic materials company’s stock worth $550,000 after purchasing an additional 120 shares during the period. Finally, World Asset Management Inc lifted its position in shares of Bunge Limited by 2.5% in the 1st quarter. World Asset Management Inc now owns 8,764 shares of the basic materials company’s stock worth $695,000 after purchasing an additional 211 shares during the period. 80.36% of the stock is currently owned by institutional investors.
In related news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of Bunge Limited 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 sale, the insider now owns 20,214 shares in the company, valued at $1,617,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.
Bunge Limited (BG) opened at 72.53 on Friday. The company’s 50 day moving average is $75.78 and its 200-day moving average is $77.06. Bunge Limited has a 52-week low of $58.19 and a 52-week high of $83.75. The firm has a market cap of $10.20 billion, a P/E ratio of 20.73 and a beta of 1.04.
Bunge Limited (NYSE:BG) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.07. The business had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $10.88 billion. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, equities analysts predict that Bunge Limited will post $3.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, November 17th. Bunge Limited’s dividend payout ratio (DPR) is currently 53.64%.
BG has been the topic of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $86.00 price target on shares of Bunge Limited in a research report on Tuesday, September 5th. Vertical Group downgraded shares of Bunge Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Credit Suisse Group set a $90.00 price target on shares of Bunge Limited and gave the stock a “buy” rating in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Bunge Limited from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research upgraded shares of Bunge Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $83.71.
Bunge Limited Profile
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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