Meeder Asset Management Inc. cut its stake in Bunge Limited (NYSE:BG) by 17.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,264 shares of the basic materials company’s stock after selling 5,288 shares during the period. Meeder Asset Management Inc.’s holdings in Bunge Limited were worth $1,811,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of 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 worth $633,427,000 after buying an additional 7,502,326 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 worth $1,048,298,000 after buying an additional 1,095,696 shares in the last quarter. AQR Capital Management LLC increased its position in shares of 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 worth $160,627,000 after buying an additional 1,022,468 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Bunge Limited during the first quarter worth approximately $55,314,000. Finally, Bank of Montreal Can increased its position in shares of 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 worth $51,468,000 after buying an additional 505,933 shares in the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
Shares of Bunge Limited (NYSE BG) traded down 0.08% during midday trading on Friday, reaching $78.31. 101,951 shares of the company traded hands. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 20.78 and a beta of 1.01. Bunge Limited has a 12 month low of $58.19 and a 12 month high of $83.75. The company’s 50 day moving average is $76.41 and its 200-day moving average is $75.14.
Bunge Limited (NYSE:BG) last posted its earnings results on Wednesday, May 3rd. The basic materials company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.33. Bunge Limited had a return on equity of 8.03% and a net margin of 1.23%. The company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $8.96 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. Equities research analysts forecast that Bunge Limited will post $4.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 18th. This is a positive change from Bunge Limited’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.35%. Bunge Limited’s payout ratio is 45.41%.
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Several brokerages have weighed in on BG. Credit Suisse Group restated a “hold” rating and issued a $80.00 target price on shares of Bunge Limited in a research note on Thursday, May 25th. Goldman Sachs Group, Inc. (The) cut shares of Bunge Limited from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Monday, March 20th. BMO Capital Markets set a $87.00 target price on shares of Bunge Limited and gave the stock a “buy” rating in a report on Monday, June 12th. BidaskClub cut shares of Bunge Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, J P Morgan Chase & Co cut shares of Bunge Limited from a “neutral” rating to an “underweight” rating and set a $70.00 target price for the company. in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $84.17.
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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