HighTower Advisors LLC bought a new position in Bunge Limited (NYSE:BG) during the first quarter, Holdings Channel reports. The institutional investor bought 2,989 shares of the basic materials company’s stock, valued at approximately $235,000.

Several other hedge funds also recently modified their holdings of BG. Macquarie Group Ltd. increased its stake in shares of Bunge Limited by 212.2% in the fourth quarter. Macquarie Group Ltd. now owns 30,600 shares of the basic materials company’s stock worth $2,211,000 after buying an additional 20,800 shares during the last quarter. Heartland Advisors Inc. increased its stake in shares of Bunge Limited by 1,419.8% in the first quarter. Heartland Advisors Inc. now owns 57,736 shares of the basic materials company’s stock worth $4,576,000 after buying an additional 53,937 shares during the last quarter. DnB Asset Management AS increased its stake in shares of Bunge Limited by 1.7% in the first quarter. DnB Asset Management AS now owns 414,253 shares of the basic materials company’s stock worth $32,834,000 after buying an additional 7,100 shares during the last quarter. Comerica Bank increased its stake in shares of Bunge Limited by 107.3% in the fourth quarter. Comerica Bank now owns 13,246 shares of the basic materials company’s stock worth $912,000 after buying an additional 6,857 shares during the last quarter. Finally, Clinton Group Inc. increased its stake in shares of Bunge Limited by 243.7% in the first quarter. Clinton Group Inc. now owns 65,349 shares of the basic materials company’s stock worth $5,180,000 after buying an additional 46,338 shares during the last quarter. Hedge funds and other institutional investors own 80.68% of the company’s stock.

Bunge Limited (NYSE:BG) opened at 79.63 on Friday. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The stock has a market cap of $11.18 billion, a P/E ratio of 21.13 and a beta of 1.01. The firm’s 50-day moving average price is $77.31 and its 200-day moving average price is $75.68.

Bunge Limited (NYSE:BG) last announced its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.33. Bunge Limited had a net margin of 1.23% and a return on equity of 8.03%. The business had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same period in the prior year, the firm posted $1.41 EPS. Bunge Limited’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, analysts predict that Bunge Limited will post $4.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, August 18th. This is a positive change from Bunge Limited’s previous quarterly dividend of $0.42. Bunge Limited’s payout ratio is currently 45.41%.

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BG has been the topic of a number of recent research reports. Zacks Investment Research upgraded Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Credit Suisse Group set a $90.00 target price on Bunge Limited and gave the stock a “buy” rating in a research note on Tuesday, July 18th. BMO Capital Markets restated a “buy” rating on shares of Bunge Limited in a research note on Friday, May 5th. J P Morgan Chase & Co upgraded Bunge Limited from an “underweight” rating to a “neutral” rating and set a $70.00 target price on the stock in a research note on Thursday, May 4th. Finally, BidaskClub upgraded Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Bunge Limited presently has a consensus rating of “Buy” and an average price target of $84.50.

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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Institutional Ownership by Quarter for Bunge Limited (NYSE:BG)

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