Bunge Limited (BG) Stake Increased by GWM Advisors LLC
GWM Advisors LLC raised its position in Bunge Limited (NYSE:BG) by 22.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,485 shares of the basic materials company’s stock after acquiring an additional 1,004 shares during the period. GWM Advisors LLC’s holdings in Bunge Limited were worth $419,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Bunge Limited by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock worth $1,077,980,000 after acquiring an additional 1,224,073 shares during the period. BlackRock Inc. lifted its stake in shares of Bunge Limited by 1,532.8% in the 1st quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock worth $633,427,000 after acquiring an additional 7,502,326 shares during the period. State Street Corp lifted its stake in shares of Bunge Limited by 3.5% in the 1st quarter. State Street Corp now owns 4,235,969 shares of the basic materials company’s stock worth $335,753,000 after acquiring an additional 141,597 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Bunge Limited by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,158,713 shares of the basic materials company’s stock worth $161,027,000 after acquiring an additional 74,820 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Bunge Limited by 101.8% in the 1st quarter. AQR Capital Management LLC now owns 2,026,586 shares of the basic materials company’s stock worth $160,627,000 after acquiring an additional 1,022,468 shares during the period. Institutional investors own 80.34% of the company’s stock.
Several research firms have recently commented on BG. TheStreet cut shares of Bunge Limited from a “b-” rating to a “c+” rating in a research note on Tuesday. Piper Jaffray Companies set a $86.00 target price on shares of Bunge Limited and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Bunge Limited from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. 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. Finally, Credit Suisse Group restated a “buy” rating and issued a $90.00 target price on shares of Bunge Limited in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.86.
In other Bunge Limited 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 value 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 approximately $1,617,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
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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, 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 period in the prior year, the company earned $0.79 EPS. Bunge Limited’s revenue was up 10.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, November 17th. Bunge Limited’s payout ratio is 53.64%.
Bunge Limited Company 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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