Point72 Asset Management L.P. Cuts Stake in Bunge Limited (BG)
Point72 Asset Management L.P. lessened its position in shares of Bunge Limited (NYSE:BG) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,595 shares of the basic materials company’s stock after selling 33,105 shares during the quarter. Point72 Asset Management L.P. owned about 0.18% of Bunge worth $17,823,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. York Capital Management Global Advisors LLC acquired a new position in Bunge in the second quarter valued at about $136,703,000. Vanguard Group Inc. lifted its stake in Bunge by 9.3% in the second quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock valued at $1,077,980,000 after buying an additional 1,224,073 shares during the period. Wells Fargo & Company MN lifted its stake in Bunge by 87.5% in the second quarter. Wells Fargo & Company MN now owns 783,708 shares of the basic materials company’s stock valued at $58,465,000 after buying an additional 365,772 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Bunge by 52.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 810,842 shares of the basic materials company’s stock valued at $60,489,000 after buying an additional 279,307 shares during the period. Finally, Fairpointe Capital LLC lifted its stake in Bunge by 28.6% in the second quarter. Fairpointe Capital LLC now owns 892,032 shares of the basic materials company’s stock valued at $66,546,000 after buying an additional 198,551 shares during the period. 79.86% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Vertical Group raised Bunge from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research raised Bunge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Citigroup lowered Bunge from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research note on Thursday, September 28th. BMO Capital Markets reissued a “buy” rating and issued a $87.00 target price on shares of Bunge in a research note on Monday, November 6th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $90.00 target price on shares of Bunge in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Bunge has a consensus rating of “Hold” and a consensus target price of $81.86.
Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.04). Bunge had a return on equity of 6.68% and a net margin of 1.06%. The business had revenue of $11.42 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. sell-side analysts predict that Bunge Limited will post 2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.84 annualized dividend and a dividend yield of 2.78%. Bunge’s dividend payout ratio (DPR) is currently 57.68%.
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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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