Nikko Asset Management Americas Inc. lowered its stake in shares of Bunge Ltd (NYSE:BG) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,726 shares of the basic materials company’s stock after selling 8,645 shares during the period. Nikko Asset Management Americas Inc. owned about 0.07% of Bunge worth $4,921,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in shares of Bunge by 167.8% during the 1st quarter. Janus Henderson Group PLC now owns 253,156 shares of the basic materials company’s stock valued at $13,435,000 after purchasing an additional 158,632 shares in the last quarter. Cutler Capital Management LLC raised its holdings in Bunge by 6.3% in the 1st quarter. Cutler Capital Management LLC now owns 42,200 shares of the basic materials company’s stock worth $2,239,000 after acquiring an additional 2,500 shares during the period. Howe & Rusling Inc. raised its holdings in Bunge by 36.1% in the 1st quarter. Howe & Rusling Inc. now owns 182,026 shares of the basic materials company’s stock worth $9,660,000 after acquiring an additional 48,261 shares during the period. Quantamental Technologies LLC bought a new position in Bunge in the 1st quarter worth $444,000. Finally, SG Americas Securities LLC raised its holdings in Bunge by 1,056.4% in the 1st quarter. SG Americas Securities LLC now owns 28,354 shares of the basic materials company’s stock worth $1,505,000 after acquiring an additional 25,902 shares during the period. 83.28% of the stock is owned by institutional investors.
Several research analysts recently commented on BG shares. ValuEngine downgraded shares of Bunge from a “hold” rating to a “sell” rating in a report on Monday, February 4th. JPMorgan Chase & Co. assumed coverage on shares of Bunge in a report on Thursday, March 28th. They set a “neutral” rating and a $67.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating on shares of Bunge in a report on Friday, February 22nd. Morgan Stanley dropped their price objective on shares of Bunge from $84.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, February 25th. Finally, Zacks Investment Research downgraded shares of Bunge from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.33.
In other Bunge news, Director Henry Ward Iv Winship bought 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $51.40 per share, for a total transaction of $205,600.00. Following the transaction, the director now owns 6,086 shares in the company, valued at $312,820.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Zachman bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $51.28 per share, for a total transaction of $512,800.00. Following the completion of the transaction, the insider now owns 24,611 shares in the company, valued at approximately $1,262,052.08. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 52,588 shares of company stock worth $2,722,275. 3.18% of the stock is owned by company insiders.
Shares of NYSE:BG traded down $0.87 on Friday, hitting $50.55. 868,645 shares of the company were exchanged, compared to its average volume of 1,679,333. Bunge Ltd has a one year low of $47.26 and a one year high of $73.13. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.66 and a current ratio of 1.40. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 18.58 and a beta of 0.91.
Bunge (NYSE:BG) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.33. Bunge had a net margin of 0.74% and a return on equity of 7.81%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue was down 6.6% compared to the same quarter last year. Equities analysts predict that Bunge Ltd will post 2.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 19th. This represents a $2.00 annualized dividend and a dividend yield of 3.96%. Bunge’s dividend payout ratio (DPR) is currently 73.53%.
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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