Bluefin Trading LLC Invests $280,000 in Bunge Limited (BG)
Bluefin Trading LLC bought a new position in Bunge Limited (NYSE:BG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,750 shares of the basic materials company’s stock, valued at approximately $280,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aviance Capital Management LLC bought a new position in Bunge Limited during the second quarter valued at approximately $101,000. Creative Planning increased its holdings in Bunge Limited by 99.0% during the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after buying an additional 822 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Bunge Limited during the first quarter valued at approximately $160,000. Janney Montgomery Scott LLC purchased a new stake in Bunge Limited during the second quarter valued at approximately $200,000. Finally, Private Bank & Trust Co. purchased a new stake in Bunge Limited during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 80.34% of the company’s stock.
In related news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction on Monday, July 24th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Shares of Bunge Limited (NYSE BG) traded down 1.98% during mid-day trading on Monday, reaching $67.36. 329,150 shares of the company’s stock traded hands. Bunge Limited has a one year low of $58.49 and a one year high of $83.75. The firm’s 50-day moving average is $72.92 and its 200 day moving average is $75.93. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 19.26 and a beta of 1.01.
Bunge Limited (NYSE:BG) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The firm had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $10.88 billion. During the same period last year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts predict that Bunge Limited will post $3.74 earnings per share for the current 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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, November 17th. Bunge Limited’s dividend payout ratio is presently 53.64%.
A number of brokerages have recently issued reports on BG. Piper Jaffray Companies set a $86.00 price objective on shares of Bunge Limited and gave the stock a “buy” rating in a research note on Friday. Citigroup Inc. cut shares of Bunge Limited from a “buy” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Bunge Limited from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. J P Morgan Chase & Co lowered shares of Bunge Limited to a “neutral – underweight” rating and set a $70.00 price objective for the company. in a research report on Tuesday, July 4th. Finally, Robert W. Baird started coverage on shares of Bunge Limited in a research report on Monday, September 11th. They set a “neutral” rating and a $77.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Bunge Limited currently has a consensus rating of “Hold” and a consensus price target of $81.86.
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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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