Macquarie Group Ltd. Raises Position in Bunge Limited (BG)
Macquarie Group Ltd. boosted its stake in Bunge Limited (NYSE:BG) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,000 shares of the basic materials company’s stock after purchasing an additional 1,800 shares during the period. Macquarie Group Ltd.’s holdings in Bunge Limited were worth $2,834,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of BG. Vanguard Group Inc. lifted its stake in 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 valued at $1,077,980,000 after purchasing an additional 1,224,073 shares during the last quarter. Boussard & Gavaudan Investment Management LLP bought a new position in Bunge Limited in the 2nd quarter valued at approximately $86,883,000. Bank of Montreal Can lifted its stake in Bunge Limited by 275.0% in the 2nd quarter. Bank of Montreal Can now owns 689,926 shares of the basic materials company’s stock valued at $51,468,000 after purchasing an additional 505,933 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Bunge Limited by 87.5% in the 2nd quarter. Wells Fargo & Company MN now owns 783,708 shares of the basic materials company’s stock valued at $58,465,000 after purchasing an additional 365,772 shares during the last quarter. Finally, Marathon Asset Management LLP lifted its stake in Bunge Limited by 51.4% in the 2nd quarter. Marathon Asset Management LLP now owns 858,219 shares of the basic materials company’s stock valued at $64,023,000 after purchasing an additional 291,231 shares during the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.
Bunge Limited (BG) opened at 71.17 on Friday. The company has a market cap of $10.01 billion, a P/E ratio of 20.35 and a beta of 1.01. Bunge Limited has a 1-year low of $60.81 and a 1-year high of $83.75. The stock’s 50 day moving average is $71.42 and its 200 day moving average is $75.20.
Bunge Limited (NYSE:BG) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) 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 analysts’ expectations of $10.88 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Equities analysts anticipate that Bunge Limited will post $3.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a $0.46 dividend. The ex-dividend date is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.59%. Bunge Limited’s dividend payout ratio (DPR) is 53.64%.
Several equities analysts recently commented on BG shares. BidaskClub raised shares of Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. J P Morgan Chase & Co downgraded shares of Bunge Limited to a “neutral – underweight” rating and set a $70.00 price objective for the company. in a research note on Tuesday, July 4th. Zacks Investment Research raised shares of Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Citigroup Inc. dropped their price objective on shares of Bunge Limited from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies set a $79.00 price objective on shares of Bunge Limited and gave the company a “buy” rating in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $81.86.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s 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 completion of the sale, the insider now 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 the SEC website. 1.30% of the stock is currently owned by corporate insiders.
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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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