Quantamental Technologies LLC bought a new position in shares of Bunge Ltd (NYSE:BG) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,359 shares of the basic materials company’s stock, valued at approximately $444,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc grew its position in shares of Bunge by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 13,753,274 shares of the basic materials company’s stock valued at $944,988,000 after acquiring an additional 160,119 shares during the period. BlackRock Inc. grew its position in shares of Bunge by 5.7% during the 4th quarter. BlackRock Inc. now owns 8,990,722 shares of the basic materials company’s stock valued at $480,464,000 after acquiring an additional 486,365 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Bunge by 7,122.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,805,409 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 3,752,723 shares during the period. Morgan Stanley grew its position in shares of Bunge by 618.9% during the 3rd quarter. Morgan Stanley now owns 3,620,854 shares of the basic materials company’s stock valued at $248,789,000 after acquiring an additional 3,117,218 shares during the period. Finally, FMR LLC grew its position in shares of Bunge by 8.9% during the 4th quarter. FMR LLC now owns 2,959,161 shares of the basic materials company’s stock valued at $158,138,000 after acquiring an additional 243,072 shares during the period. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bunge stock traded down $0.08 on Wednesday, hitting $51.90. 1,430,997 shares of the company traded hands, compared to its average volume of 1,688,790. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 1.40. Bunge Ltd has a 12-month low of $47.26 and a 12-month high of $73.13. The stock has a market cap of $7.39 billion, a P/E ratio of 19.08 and a beta of 0.91.
Bunge (NYSE:BG) last released its earnings results on Wednesday, May 8th. The basic materials company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.33. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $10.67 billion. Bunge had a net margin of 0.74% and a return on equity of 7.81%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) EPS. On average, analysts predict that Bunge Ltd will post 2.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.85%. Bunge’s dividend payout ratio (DPR) is presently 73.53%.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Bunge from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 25th. ValuEngine cut shares of Bunge from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Morgan Stanley dropped their price target on shares of Bunge from $84.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, February 25th. BMO Capital Markets restated an “outperform” rating on shares of Bunge in a research note on Friday, February 22nd. Finally, Credit Suisse Group set a $70.00 target price on shares of Bunge and gave the stock an “outperform” rating in a research note on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $73.33.
In related news, insider Brian Zachman bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $51.28 per share, with a total value of $512,800.00. Following the transaction, the insider now owns 24,611 shares in the company, valued at approximately $1,262,052.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory A. Heckman bought 38,588 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $51.93 per share, with a total value of $2,003,874.84. Following the completion of the transaction, the chief executive officer now owns 55,054 shares in the company, valued at approximately $2,858,954.22. The disclosure for this purchase can be found here. 3.18% of the stock is owned by company insiders.
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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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