Waverton Investment Management Ltd Maintains Position in Bunge Ltd. (BG)
Waverton Investment Management Ltd continued to hold its position in Bunge Ltd. (NYSE:BG) during the second quarter, Holdings Channel reports. The institutional investor owned 25,273 shares of the company’s stock at the end of the second quarter. Waverton Investment Management Ltd’s holdings in Bunge were worth $1,495,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of BG. JFS Wealth Advisors LLC boosted its position in Bunge by 17.3% in the second quarter. JFS Wealth Advisors LLC now owns 2,392 shares of the company’s stock worth $141,000 after buying an additional 353 shares during the last quarter. Beech Hill Advisors Inc. purchased a new stake in shares of Bunge during the second quarter valued at $225,000. CIBC World Markets Inc. purchased a new stake in shares of Bunge during the second quarter valued at $227,000. Park Avenue Securities LLC purchased a new stake in shares of Bunge during the second quarter valued at $227,000. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Bunge by 2.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,465 shares of the company’s stock valued at $264,000 after buying an additional 105 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.
Shares of Bunge Ltd. (NYSE:BG) traded down 1.47% on Friday, reaching $60.96. The company had a trading volume of 902,449 shares. The company has a market capitalization of $8.50 billion, a P/E ratio of 11.74 and a beta of 0.95. Bunge Ltd. has a 52 week low of $46.08 and a 52 week high of $79.87. The company has a 50 day moving average of $61.68 and a 200-day moving average of $61.31.
Bunge (NYSE:BG) last posted its earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.41. The company earned $10.50 billion during the quarter, compared to analysts’ expectations of $10.08 billion. Bunge had a return on equity of 12.02% and a net margin of 1.90%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Analysts predict that Bunge Ltd. will post $5.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.68 annualized dividend and a yield of 2.76%. Bunge’s dividend payout ratio (DPR) is 32.43%.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Bunge from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, June 13th. BB&T Corp. assumed coverage on Bunge in a report on Tuesday, July 12th. They issued a “buy” rating and a $75.00 target price for the company. Morgan Stanley reiterated a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. Bank of America Corp. upgraded Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $72.00 target price on shares of Bunge in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Bunge has a consensus rating of “Buy” and a consensus price target of $73.13.
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The Edible oil products and milling products segments include businesses that produce and sell edible oil based products, including vegetable oils, shortenings, margarines and mayonnaise, and milled grain products, such as wheat flours, corn-based products and rice.
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