BARING ASSET MANAGEMENT Ltd Acquires 16,520 Shares of Bunge Limited (BG)
BARING ASSET MANAGEMENT Ltd raised its position in shares of Bunge Limited (NYSE:BG) by 56.3% during the second quarter, Holdings Channel reports. The firm owned 45,886 shares of the basic materials company’s stock after buying an additional 16,520 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Bunge Limited were worth $3,423,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 in the last quarter. Heartland Advisors Inc. increased its stake in 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 valued at $4,576,000 after buying an additional 53,937 shares during the period. DnB Asset Management AS increased its stake in 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 valued at $32,834,000 after buying an additional 7,100 shares during the period. Clinton Group Inc. increased its stake in Bunge Limited by 243.7% in the first quarter. Clinton Group Inc. now owns 65,349 shares of the basic materials company’s stock valued at $5,180,000 after buying an additional 46,338 shares during the period. Finally, Korea Investment CORP increased its stake in Bunge Limited by 76,103.0% in the first quarter. Korea Investment CORP now owns 125,735 shares of the basic materials company’s stock valued at $9,966,000 after buying an additional 125,570 shares during the period. 80.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Bunge Limited (BG) opened at 77.16 on Thursday. Bunge Limited has a 52 week low of $58.19 and a 52 week high of $83.75. The stock’s 50 day moving average price is $77.47 and its 200-day moving average price is $76.79. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 22.06 and a beta of 1.02.
Bunge Limited (NYSE:BG) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The company had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $10.88 billion. During the same period last year, the business posted $0.79 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Equities analysts anticipate that Bunge Limited will post $3.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders 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 annualized dividend and a dividend yield of 2.38%. Bunge Limited’s dividend payout ratio (DPR) is currently 48.98%.
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Several analysts have recently weighed in on BG shares. Stephens downgraded Bunge Limited from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 3rd. J P Morgan Chase & Co upgraded Bunge Limited from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Thursday, May 4th. BMO Capital Markets reiterated a “buy” rating on shares of Bunge Limited in a research report on Friday, May 5th. Credit Suisse Group set a $80.00 target price on Bunge Limited and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, BidaskClub lowered Bunge Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Bunge Limited has an average rating of “Hold” and a consensus target price of $84.83.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of Bunge Limited stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.00, for a total value of $210,880.00. Following the transaction, the insider now directly owns 20,214 shares in the company, valued at approximately $1,617,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
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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