23,519 Shares in Bunge Limited (BG) Acquired by Globeflex Capital L P
Globeflex Capital L P acquired a new stake in shares of Bunge Limited (NYSE:BG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,519 shares of the basic materials company’s stock, valued at approximately $1,755,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of BG. Creative Planning raised its stake in Bunge Limited by 99.0% during the 2nd quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 822 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Bunge Limited during the 1st quarter valued at approximately $160,000. Janney Montgomery Scott LLC purchased a new stake in Bunge Limited during the 2nd quarter valued at approximately $200,000. Private Bank & Trust Co. purchased a new stake in Bunge Limited during the 2nd quarter valued at approximately $210,000. Finally, HighTower Advisors LLC purchased a new stake in Bunge Limited during the 1st quarter valued at approximately $235,000. 80.34% of the stock is owned by hedge funds and other institutional investors.
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Several analysts have commented on BG shares. Credit Suisse Group upped their price objective on Bunge Limited from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, June 9th. BMO Capital Markets set a $87.00 price objective on Bunge Limited and gave the company a “buy” rating in a research note on Monday, June 12th. BidaskClub downgraded Bunge Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Zacks Investment Research downgraded Bunge Limited from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, J P Morgan Chase & Co downgraded Bunge Limited to a “neutral – underweight” rating and set a $70.00 target price for the company. in a research note on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $83.71.
Bunge Limited (NYSE:BG) traded down 0.14% during trading on Friday, reaching $71.28. The company had a trading volume of 637,717 shares. Bunge Limited has a 52-week low of $58.19 and a 52-week high of $83.75. The company has a 50-day moving average of $75.41 and a 200-day moving average of $76.87. The firm has a market capitalization of $10.02 billion, a P/E ratio of 20.38 and a beta of 1.04.
Bunge Limited (NYSE:BG) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $10.88 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts expect that Bunge Limited will post $3.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be issued a $0.46 dividend. The ex-dividend date is Friday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 2.58%. Bunge Limited’s dividend payout ratio is currently 53.64%.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction 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 owns 20,214 shares of the company’s stock, valued at $1,617,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.
Bunge Limited 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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