Scotia Capital Inc. Purchases Shares of 5,282 Bunge Limited (BG)
Scotia Capital Inc. purchased a new position in shares of Bunge Limited (NYSE:BG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,282 shares of the basic materials company’s stock, valued at approximately $394,000.
Several other hedge funds have also modified their holdings of the company. Capital Innovations LLC acquired a new position in shares of Bunge Limited during the second quarter worth $325,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Bunge Limited by 13.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the basic materials company’s stock worth $584,000 after purchasing an additional 925 shares in the last quarter. Fairpointe Capital LLC increased its position in shares of Bunge Limited by 28.6% during the second quarter. Fairpointe Capital LLC now owns 892,032 shares of the basic materials company’s stock worth $66,546,000 after purchasing an additional 198,551 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Bunge Limited by 14,614.7% during the second quarter. The Manufacturers Life Insurance Company now owns 5,003 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 4,969 shares in the last quarter. Finally, Bluefin Trading LLC acquired a new position in shares of Bunge Limited during the second quarter worth $280,000. 80.34% of the stock is currently owned by institutional investors and hedge funds.
Bunge Limited (NYSE BG) opened at 70.81 on Tuesday. The firm has a market capitalization of $9.96 billion, a P/E ratio of 20.24 and a beta of 1.01. The company has a 50 day moving average price of $71.85 and a 200 day moving average price of $75.45. Bunge Limited has a 52-week low of $58.49 and a 52-week high of $83.75.
Bunge Limited (NYSE:BG) last released its quarterly earnings data 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. The business had revenue of $11.65 billion during 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 company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. On average, equities analysts forecast that Bunge Limited will post $3.49 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.60%. Bunge Limited’s dividend payout ratio (DPR) is currently 53.64%.
A number of equities analysts have recently issued reports on the company. Citigroup Inc. downgraded Bunge Limited from a “buy” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research report on Thursday, September 28th. Zacks Investment Research raised Bunge Limited from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 price target on shares of Bunge Limited in a research report on Friday, July 21st. J P Morgan Chase & Co downgraded Bunge Limited to a “neutral – underweight” rating and set a $70.00 price target on the stock. in a research report on Tuesday, July 4th. Finally, BidaskClub raised Bunge Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $81.86.
In other 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 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 approximately $1,617,120. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.
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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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