California State Teachers Retirement System cut its holdings in shares of Bunge Limited (NYSE:BG) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 255,255 shares of the basic materials company’s stock after selling 8,843 shares during the period. California State Teachers Retirement System owned 0.18% of Bunge worth $17,730,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Aviance Capital Management LLC purchased a new stake in Bunge in the second quarter worth $101,000. Advisor Group Inc. grew its stake in Bunge by 127.8% in the third quarter. Advisor Group Inc. now owns 1,499 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 841 shares during the period. Toronto Dominion Bank grew its stake in Bunge by 12.3% in the second quarter. Toronto Dominion Bank now owns 1,714 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 188 shares during the period. Advisory Services Network LLC grew its stake in Bunge by 559.2% in the second quarter. Advisory Services Network LLC now owns 2,294 shares of the basic materials company’s stock worth $171,000 after purchasing an additional 1,946 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Bunge in the second quarter worth $200,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on BG shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 price target on shares of Bunge in a research note on Tuesday, September 5th. Robert W. Baird started coverage on Bunge in a research note on Monday, September 11th. They issued a “neutral” rating and a $77.00 price target on the stock. Vertical Group cut Bunge from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Credit Suisse Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Bunge in a research note on Friday, September 15th. Finally, Zacks Investment Research cut Bunge from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $81.86.
Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.04). The business had revenue of $11.42 billion for the quarter, compared to the consensus estimate of $11.87 billion. Bunge had a net margin of 1.06% and a return on equity of 6.68%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. analysts predict that Bunge Limited will post 2.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, February 15th. Bunge’s payout ratio is currently 57.68%.
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Bunge Company Profile
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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