Ladenburg Thalmann Financial Services Inc. decreased its position in shares of Bunge Ltd (NYSE:BG) by 26.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,888 shares of the basic materials company’s stock after selling 1,032 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Bunge were worth $162,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. raised its holdings in Bunge by 0.5% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 498,587 shares of the basic materials company’s stock worth $37,100,000 after buying an additional 2,329 shares during the period. California Public Employees Retirement System raised its holdings in Bunge by 17.4% during the 2nd quarter. California Public Employees Retirement System now owns 838,907 shares of the basic materials company’s stock worth $46,736,000 after buying an additional 124,052 shares during the period. MidWestOne Financial Group Inc. acquired a new stake in Bunge during the 2nd quarter worth approximately $705,000. Worldquant Millennium Advisors LLC raised its holdings in Bunge by 18.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 140,345 shares of the basic materials company’s stock worth $7,819,000 after buying an additional 21,729 shares during the period. Finally, Pictet Asset Management Ltd. raised its holdings in Bunge by 50.9% during the 2nd quarter. Pictet Asset Management Ltd. now owns 524,371 shares of the basic materials company’s stock worth $29,213,000 after buying an additional 176,923 shares during the period. 79.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of BG stock opened at $55.15 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 1.49. The company has a market capitalization of $7.74 billion, a P/E ratio of 20.28 and a beta of 0.89. The company’s 50 day moving average price is $55.86 and its two-hundred day moving average price is $54.69. Bunge Ltd has a 52 week low of $47.26 and a 52 week high of $69.30.
Bunge (NYSE:BG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $1.52 EPS for the quarter, topping the consensus estimate of $0.32 by $1.20. Bunge had a net margin of 1.30% and a return on equity of 11.39%. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $12 billion. During the same period last year, the company posted $0.10 EPS. The business’s quarterly revenue was down 16.9% on a year-over-year basis. Analysts forecast that Bunge Ltd will post 3.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.63%. Bunge’s dividend payout ratio (DPR) is presently 73.53%.
In other Bunge news, Director Grain Co Continental acquired 20,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of $52.27 per share, for a total transaction of $1,045,400.00. Following the completion of the acquisition, the director now directly owns 3,931,155 shares of the company’s stock, valued at $205,481,471.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.18% of the stock is owned by company insiders.
Several analysts have commented on the stock. ValuEngine upgraded shares of Bunge from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a report on Monday, September 23rd. TheStreet upgraded shares of Bunge from a “c+” rating to a “b” rating in a report on Wednesday, July 31st. Finally, Stephens assumed coverage on shares of Bunge in a report on Tuesday, October 8th. They set an “overweight” rating and a $74.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Bunge presently has an average rating of “Buy” and an average target price of $71.86.
Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.
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