IFM Investors Pty Ltd increased its stake in Bunge Limited (NYSE: BG – Get a rating) by 10.8% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 22,426 shares of the basic materials company after purchasing an additional 2,183 shares during the period. IFM Investors Pty Ltd’s holdings in Bunge were worth $2,485,000 at the end of the most recent period.
Other hedge funds have also increased or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Bunge during Q4 valued at $52,225,000. Daiwa Securities Group Inc. increased its stake in Bunge shares by 4.3% in Q4. Daiwa Securities Group Inc. now owns 7,238 shares of the basic materials company valued at $676,000 after purchasing an additional 300 shares during the period. Schroder Investment Management Group increased its stake in Bunge shares by 7,596.8% in the fourth quarter. Schroder Investment Management Group now owns 121,070 shares of the basic materials company valued at $11,303,000 after purchasing an additional 119,497 shares during the period. DA Davidson & CO. increased its stake in Bunge shares by 276.1% in Q4. DA Davidson & CO. now owns 25,762 shares of the basic materials company valued at $2,405,000 after purchasing an additional 18,912 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bunge shares by 41.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,052 shares of the basic materials company valued at $5,046,000 after purchasing an additional 15,862 shares during the period. 86.11% of the shares are held by hedge funds and other institutional investors.
BG has been the subject of several recent research reports. Bank of America upgraded Bunge from a “neutral” rating to a “buy” rating and lowered its price target for the stock from $140.00 to $135.00 in a research report on Thursday. Credit Suisse Group cut its price target on Bunge from $140.00 to $125.00 and set an “outperform” rating on the stock in a Friday, June 24 report. Barclays raised its price target on Bunge from $120.00 to $135.00 and gave the stock an “overweight” rating in a Monday, April 25 report. To finish, StockNews.com downgraded Bunge from a “buy” rating to a “hold” rating in a Thursday report. Three investment analysts gave the stock a hold rating and six gave the stock a buy rating. According to data from MarketBeat, Bunge currently has an average rating of “Moderate Buy” and an average target price of $111.00.
NYSE: BG opened at $90.69 on Friday. The company has a debt ratio of 0.46, a quick ratio of 0.71 and a current ratio of 1.51. The stock’s 50-day simple moving average is $108.54 and its 200-day simple moving average is $105.03. The company has a market capitalization of $13.76 billion, a P/E ratio of 7.17, a P/E/G ratio of 1.03 and a beta of 0.49. Bunge Limited has a 52-week low of $71.73 and a 52-week high of $128.40.
Bunge (NYSE: BG – Get a rating) last reported results on Wednesday, April 27. The basic materials company reported earnings per share (EPS) of $4.26 for the quarter, beating consensus analyst estimates of $3.24 by $1.02. The company posted revenue of $15.88 billion for the quarter, versus a consensus estimate of $14.63 billion. Bunge had a return on equity of 28.87% and a net margin of 3.07%. Bunge’s quarterly revenue increased 22.5% year over year. In the same quarter a year earlier, the company had earned earnings per share of $3.13. As a group, stock analysts predict Bunge Limited will post earnings per share of 12.87 for the current financial year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2. Investors of record on Friday August 19 will receive a dividend of $0.625. The ex-dividend date is Thursday, August 18. This represents a dividend of $2.50 on an annualized basis and a dividend yield of 2.76%. This is an increase from Bunge’s previous quarterly dividend of $0.53. Bunge’s payout ratio is currently 16.60%.
In related news, Insider Jerry Matthews Simmons, Jr. sold 44,666 shares of Bunge in a trade dated Monday, May 2. The stock was sold at an average price of $114.98, for a total value of $5,135,696.68. Following the sale, the insider now owns 33,654 shares of the company, valued at $3,869,536.92. The transaction was disclosed in an SEC filing, which is available via this hyperlink. 2.20% of the shares are currently held by insiders.
Elastic profile (Get a rating)
Bunge Limited operates as a food and beverage company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Flour Milling, and Sugar and Bioenergy. The Agribusiness segment buys, stores, transports, processes and sells agricultural raw materials and commodities, including oilseeds mainly soybeans, rapeseed, canola and sunflower seeds, as well as cereals mainly wheat and corn ; and processes oilseeds into vegetable oils and protein meals.
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