Raymond James Financial Services Advisors Inc. raised its position in shares of Bunge Limited (NYSE:BG) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,824 shares of the basic materials company’s stock after buying an additional 925 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Bunge Limited were worth $584,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MARSHALL WACE ASIA Ltd bought a new stake in shares of Bunge Limited in the 1st quarter valued at approximately $340,000. Marshall Wace North America L.P. bought a new stake in shares of Bunge Limited in the 1st quarter valued at approximately $340,000. New York State Teachers Retirement System bought a new stake in shares of Bunge Limited in the 1st quarter valued at approximately $975,000. Amalgamated Bank lifted its stake in shares of Bunge Limited by 9.4% in the 1st quarter. Amalgamated Bank now owns 7,553 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 650 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Bunge Limited in the 1st quarter valued at approximately $235,000. Institutional investors and hedge funds own 79.70% of the company’s stock.
BG has been the subject of several analyst reports. Credit Suisse Group set a $90.00 price objective on Bunge Limited and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research lowered Bunge Limited from a “hold” rating to a “strong sell” rating in a research note on Friday, October 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Bunge Limited in a research note on Tuesday, September 5th. BidaskClub lowered Bunge Limited from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 price objective on shares of Bunge Limited in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $81.86.
Bunge Limited (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.89). The business had revenue of $11.42 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be given a $0.46 dividend. The ex-dividend date is Friday, November 17th. This represents a $1.84 annualized dividend and a yield of 2.68%. Bunge Limited’s payout ratio is 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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