Neuberger Berman Group LLC decreased its position in Bunge Limited (NYSE:BG) by 48.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,909 shares of the basic materials company’s stock after selling 18,702 shares during the quarter. Neuberger Berman Group LLC’s holdings in Bunge Limited were worth $1,485,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of BG. BlackRock Inc. raised its holdings in Bunge Limited by 1,532.8% in the first quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock valued at $633,427,000 after acquiring an additional 7,502,326 shares in the last quarter. Boussard & Gavaudan Investment Management LLP acquired a new stake in Bunge Limited in the second quarter valued at approximately $86,883,000. Vanguard Group Inc. raised its holdings in Bunge Limited by 9.0% in the first quarter. Vanguard Group Inc. now owns 13,226,070 shares of the basic materials company’s stock valued at $1,048,298,000 after acquiring an additional 1,095,696 shares in the last quarter. AQR Capital Management LLC raised its holdings in Bunge Limited by 101.8% in the first quarter. AQR Capital Management LLC now owns 2,026,586 shares of the basic materials company’s stock valued at $160,627,000 after acquiring an additional 1,022,468 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Bunge Limited by 275.0% in the second quarter. Bank of Montreal Can now owns 689,926 shares of the basic materials company’s stock valued at $51,468,000 after acquiring an additional 505,933 shares in the last quarter. 80.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bunge Limited (BG) opened at 72.53 on Friday. The firm has a market cap of $10.20 billion, a PE ratio of 20.73 and a beta of 1.04. Bunge Limited has a 12-month low of $58.19 and a 12-month high of $83.75. The firm’s 50-day moving average is $75.78 and its 200-day moving average is $77.06.
Bunge Limited (NYSE:BG) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (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 company had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $10.88 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts expect that Bunge Limited will post $3.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, November 17th. This represents a $1.84 annualized dividend and a yield of 2.54%. Bunge Limited’s dividend payout ratio is currently 53.64%.
Several analysts recently weighed in on BG shares. Zacks Investment Research cut shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Credit Suisse Group reaffirmed a “hold” rating and issued a $80.00 target price on shares of Bunge Limited in a report on Thursday, May 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 target price on shares of Bunge Limited in a report on Tuesday, September 5th. BidaskClub cut shares of Bunge Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. reduced their target price on shares of Bunge Limited from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Bunge Limited currently has an average rating of “Hold” and an average price target of $83.71.
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In related news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $80.00, for a total transaction of $210,880.00. Following the completion of the transaction, the insider now owns 20,214 shares of the company’s stock, valued at $1,617,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.
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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