CI Investments Inc. bought a new position in shares of Bunge Ltd (NYSE:BG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 29,200 shares of the basic materials company’s stock, valued at approximately $1,959,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisor Group Inc. raised its holdings in Bunge by 127.8% in the 3rd quarter. Advisor Group Inc. now owns 1,499 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 841 shares in the last quarter. Toronto Dominion Bank raised its holdings in Bunge by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 1,714 shares of the basic materials company’s stock valued at $128,000 after acquiring an additional 188 shares in the last quarter. Cerebellum GP LLC acquired a new position in Bunge in the 4th quarter valued at $129,000. Advisory Services Network LLC raised its holdings in Bunge by 559.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,294 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 1,946 shares in the last quarter. Finally, KCS Wealth Advisory acquired a new position in Bunge in the 4th quarter valued at $200,000. Institutional investors own 77.29% of the company’s stock.
Shares of Bunge Ltd (BG) opened at $79.66 on Tuesday. Bunge Ltd has a 52-week low of $63.87 and a 52-week high of $83.75. The company has a market capitalization of $11,354.15, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.60 and a quick ratio of 0.82.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. Bunge’s payout ratio is 57.68%.
BG has been the topic of a number of research reports. BMO Capital Markets restated a “buy” rating and set a $87.00 price objective on shares of Bunge in a research report on Monday, November 6th. Vertical Group upgraded Bunge from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Credit Suisse Group set a $84.00 price objective on Bunge and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, Zacks Investment Research upgraded Bunge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.00.
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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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