Uncommon Cents Investing LLC lifted its position in shares of Bunge Ltd (NYSE:BG) by 5.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 32,360 shares of the basic materials company’s stock after purchasing an additional 1,735 shares during the period. Uncommon Cents Investing LLC’s holdings in Bunge were worth $1,832,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of BG. Nuveen Asset Management LLC purchased a new stake in shares of Bunge during the 2nd quarter worth about $117,628,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Bunge by 10.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,472,099 shares of the basic materials company’s stock worth $806,241,000 after acquiring an additional 1,423,416 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bunge by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,515,089 shares of the basic materials company’s stock worth $752,925,000 after acquiring an additional 746,791 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in shares of Bunge by 512.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 808,517 shares of the basic materials company’s stock worth $45,042,000 after acquiring an additional 676,487 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Bunge by 1,245.8% during the 2nd quarter. Prudential Financial Inc. now owns 487,255 shares of the basic materials company’s stock worth $27,145,000 after acquiring an additional 451,050 shares in the last quarter. 79.94% of the stock is currently owned by institutional investors and hedge funds.
Bunge stock traded down $0.55 during midday trading on Thursday, reaching $54.85. The company had a trading volume of 11,432 shares, compared to its average volume of 879,535. The company has a market capitalization of $7.84 billion, a P/E ratio of 20.15 and a beta of 0.89. Bunge Ltd has a 12-month low of $47.26 and a 12-month high of $69.30. The firm’s fifty day simple moving average is $55.66 and its 200-day simple moving average is $54.64. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 0.70.
Bunge (NYSE:BG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $1.20. Bunge had a net margin of 1.30% and a return on equity of 11.39%. The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $12 billion. During the same period last year, the company posted $0.10 EPS. Bunge’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, analysts expect that Bunge Ltd will post 3.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.65%. Bunge’s dividend payout ratio (DPR) is 73.53%.
In other Bunge news, Director Grain Co Continental bought 20,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were acquired at an average cost of $52.27 per share, with a total value of $1,045,400.00. Following the purchase, the director now directly owns 3,931,155 shares of the company’s stock, valued at approximately $205,481,471.85. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.18% of the company’s stock.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Bunge from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a research note on Monday, September 23rd. Stephens assumed coverage on shares of Bunge in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $74.00 price target on the stock. TheStreet raised shares of Bunge from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. Finally, ValuEngine raised shares of Bunge from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.86.
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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