CIBC World Markets Inc. grew its stake in shares of Bunge Ltd (NYSE:BG) by 19.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,815 shares of the basic materials company’s stock after buying an additional 1,255 shares during the period. CIBC World Markets Inc.’s holdings in Bunge were worth $537,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cutler Capital Management LLC bought a new stake in Bunge in the third quarter valued at about $206,000. Truvestments Capital LLC bought a new stake in Bunge in the second quarter valued at about $209,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Bunge in the third quarter valued at about $220,000. Gideon Capital Advisors Inc. bought a new stake in Bunge in the second quarter valued at about $226,000. Finally, First Hawaiian Bank bought a new stake in Bunge in the third quarter valued at about $273,000. 79.66% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Thomas Boehlert purchased 3,200 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $62.68 per share, with a total value of $200,576.00. Following the completion of the purchase, the chief financial officer now directly owns 3,200 shares of the company’s stock, valued at $200,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Soren Schroder purchased 500 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were bought at an average cost of $62.72 per share, for a total transaction of $31,360.00. The disclosure for this purchase can be found here. Insiders have acquired 333,200 shares of company stock worth $20,357,881 over the last ninety days. Insiders own 1.25% of the company’s stock.
Shares of Bunge stock opened at $58.67 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 30.24 and a beta of 1.12. Bunge Ltd has a 1-year low of $56.14 and a 1-year high of $83.20.
Bunge (NYSE:BG) last issued its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.13. The firm had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Bunge had a net margin of 0.59% and a return on equity of 7.84%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, equities analysts anticipate that Bunge Ltd will post 4.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Tuesday, February 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.41%. Bunge’s dividend payout ratio is 103.09%.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Bunge from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 2nd. ValuEngine cut shares of Bunge from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. BMO Capital Markets decreased their price objective on shares of Bunge from $87.00 to $83.00 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. Finally, Citigroup decreased their price objective on shares of Bunge from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $78.40.
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Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grain, such as wheat and corn; and vegetable oils and protein meals.
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