Victory Capital Management Inc. Purchases 2,883 Shares of Bunge Limited (BG)
Victory Capital Management Inc. increased its position in shares of Bunge Limited (NYSE:BG) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,969 shares of the basic materials company’s stock after acquiring an additional 2,883 shares during the quarter. Victory Capital Management Inc.’s holdings in Bunge Limited were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in Bunge Limited by 26.3% in the first quarter. Toronto Dominion Bank now owns 1,526 shares of the basic materials company’s stock valued at $121,000 after buying an additional 318 shares during the last quarter. Creative Planning lifted its position in Bunge Limited by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after buying an additional 822 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Bunge Limited in the first quarter valued at about $160,000. Janney Montgomery Scott LLC acquired a new position in Bunge Limited in the second quarter valued at about $200,000. Finally, Private Bank & Trust Co. acquired a new position in Bunge Limited in the second quarter valued at about $210,000. 80.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bunge Limited (NYSE:BG) opened at 72.83 on Friday. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The firm has a market cap of $10.24 billion, a PE ratio of 20.82 and a beta of 1.04. The stock’s 50 day moving average is $75.97 and its 200 day moving average is $77.13.
Bunge Limited (NYSE:BG) last released its quarterly earnings data 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. The business had revenue of $11.65 billion for the quarter, compared to analyst estimates of $10.88 billion. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. On average, analysts anticipate that Bunge Limited will post $3.94 earnings per share for the current fiscal year.
The company 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. This represents a $1.84 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, November 17th. Bunge Limited’s dividend payout ratio is currently 53.64%.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of Bunge Limited stock in a transaction dated 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 of the company’s stock, valued at approximately $1,617,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
BG has been the topic of a number of recent analyst reports. Credit Suisse Group reaffirmed a “hold” rating and issued a $80.00 target price on shares of Bunge Limited in a research report on Thursday, May 25th. BMO Capital Markets set a $87.00 target price on shares of Bunge Limited and gave the company a “buy” rating in a research report on Monday, June 12th. BidaskClub cut shares of Bunge Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Zacks Investment Research cut shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Finally, J P Morgan Chase & Co cut shares of Bunge Limited to a “neutral – underweight” rating and set a $70.00 target price on the stock. in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.71.
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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