Bunge Limited (BG) Position Lowered by California Public Employees Retirement System
California Public Employees Retirement System lowered its position in Bunge Limited (NYSE:BG) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,022 shares of the basic materials company’s stock after selling 24,000 shares during the period. California Public Employees Retirement System owned about 0.26% of Bunge Limited worth $26,932,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Bunge Limited by 99.0% in the 2nd quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 822 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in Bunge Limited in the 1st quarter worth $160,000. Janney Montgomery Scott LLC acquired a new position in Bunge Limited in the 2nd quarter worth $200,000. Private Bank & Trust Co. acquired a new position in Bunge Limited in the 2nd quarter worth $210,000. Finally, HighTower Advisors LLC acquired a new position in Bunge Limited in the 1st quarter worth $235,000. Institutional investors and hedge funds own 80.34% of the company’s stock.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the business’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 sale, the insider now directly owns 20,214 shares of the company’s stock, valued at $1,617,120. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
Bunge Limited (BG) opened at 70.78 on Thursday. Bunge Limited has a 1-year low of $58.19 and a 1-year high of $83.75. The firm has a market capitalization of $9.95 billion, a P/E ratio of 20.23 and a beta of 1.04. The stock’s 50 day moving average is $75.41 and its 200-day moving average is $76.87.
Bunge Limited (NYSE:BG) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. The company had revenue of $11.65 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Analysts forecast that Bunge Limited will post $3.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, November 17th. Bunge Limited’s payout ratio is presently 53.64%.
BG has been the subject of a number of research analyst reports. Credit Suisse Group set a $90.00 target price on shares of Bunge Limited and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 target price on shares of Bunge Limited in a research note on Tuesday, September 5th. Zacks Investment Research lowered shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. BidaskClub lowered shares of Bunge Limited from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Vertical Group lowered shares of Bunge Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus 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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