AdvisorNet Financial Inc lifted its stake in shares of Bunge Limited (NYSE:BG – Get Rating) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,186 shares of the basic materials company’s stock after acquiring an additional 523 shares during the quarter. AdvisorNet Financial Inc’s holdings in Bunge were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Corbenic Partners LLC purchased a new stake in shares of Bunge during the first quarter worth $34,000. Pinnacle Holdings LLC purchased a new stake in shares of Bunge during the first quarter worth $36,000. Riverview Trust Co increased its position in shares of Bunge by 100.5% during the first quarter. Riverview Trust Co now owns 391 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 196 shares during the period. MV Capital Management Inc. purchased a new stake in shares of Bunge during the first quarter worth $43,000. Finally, Elequin Capital LP purchased a new stake in shares of Bunge during the first quarter worth $47,000. Hedge funds and other institutional investors own 83.48% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on BG shares. JPMorgan Chase & Co. upgraded shares of Bunge from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $130.00 to $106.00 in a research note on Thursday, July 7th. Wolfe Research started coverage on shares of Bunge in a research note on Friday, August 12th. They set an “outperform” rating and a $127.00 target price for the company. Credit Suisse Group lowered their target price on shares of Bunge from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. StockNews.com downgraded shares of Bunge from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Bank of America upgraded shares of Bunge from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $140.00 to $135.00 in a research note on Thursday, June 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Bunge currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.67.
Bunge Stock Performance
Bunge (NYSE:BG – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). Bunge had a net margin of 2.73% and a return on equity of 27.43%. The company had revenue of $17.93 billion during the quarter, compared to analyst estimates of $18.64 billion. During the same quarter in the prior year, the company earned $2.61 EPS. The business’s revenue was up 16.5% on a year-over-year basis. As a group, analysts expect that Bunge Limited will post 12.65 earnings per share for the current year.
Bunge Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.50 annualized dividend and a dividend yield of 2.79%. Bunge’s dividend payout ratio (DPR) is 21.51%.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 processes oilseeds into vegetable oils and protein meals.
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