Zurich Insurance Group Ltd FI bought a new stake in Bunge Limited (NYSE:BG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,420 shares of the basic materials company’s stock, valued at approximately $777,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Bunge Limited by 9.3% in the second quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock valued at $1,077,980,000 after purchasing an additional 1,224,073 shares in the last quarter. BlackRock Inc. raised its stake 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 valued at $633,427,000 after purchasing an additional 7,502,326 shares in the last quarter. State Street Corp raised its stake in shares of Bunge Limited by 3.5% in the first quarter. State Street Corp now owns 4,235,969 shares of the basic materials company’s stock valued at $335,753,000 after purchasing an additional 141,597 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bunge Limited by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,158,713 shares of the basic materials company’s stock valued at $161,027,000 after purchasing an additional 74,820 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake 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 valued at $160,627,000 after purchasing an additional 1,022,468 shares in the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $80.00, for a total transaction of $210,880.00. Following the completion of the transaction, the insider now owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.
A number of research analysts recently commented on BG shares. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 target price on shares of Bunge Limited in a research note on Friday, July 21st. Credit Suisse Group set a $90.00 target price on Bunge Limited and gave the company a “buy” rating in a research note on Tuesday, July 18th. Citigroup Inc. cut their target price on Bunge Limited from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, BidaskClub upgraded Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $81.86.
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Bunge Limited (BG) opened at 67.84 on Wednesday. Bunge Limited has a 1-year low of $58.49 and a 1-year high of $83.75. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 19.39 and a beta of 1.01. The firm’s 50-day moving average price is $72.49 and its 200 day moving average price is $75.69.
Bunge Limited (NYSE:BG) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The firm had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $10.88 billion. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. On average, analysts predict that Bunge Limited will post $3.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.71%. Bunge Limited’s dividend payout ratio (DPR) is currently 53.64%.
About Bunge Limited
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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