Commonwealth Equity Services LLC lifted its holdings in Bunge Limited (NYSE:BG – Get Rating) by 3.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 40,493 shares of the basic materials company’s stock after acquiring an additional 1,346 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Bunge were worth $3,343,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in BG. Vanguard Group Inc. lifted its holdings in shares of Bunge by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after acquiring an additional 696,806 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Bunge in the first quarter worth $74,642,000. Goldman Sachs Group Inc. increased its stake in shares of Bunge by 96.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,091,927 shares of the basic materials company’s stock worth $120,996,000 after buying an additional 536,078 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Bunge by 563.1% in the third quarter. Point72 Asset Management L.P. now owns 556,300 shares of the basic materials company’s stock worth $45,934,000 after buying an additional 472,400 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Bunge by 11.9% in the second quarter. UBS Asset Management Americas Inc. now owns 4,352,389 shares of the basic materials company’s stock worth $394,718,000 after buying an additional 463,445 shares during the period. 82.62% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BG has been the topic of several analyst reports. UBS Group initiated coverage on shares of Bunge in a research note on Tuesday, December 13th. They issued a “buy” rating and a $133.00 target price on the stock. Robert W. Baird downgraded shares of Bunge from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $127.00 to $115.00 in a research note on Thursday, February 9th. Finally, StockNews.com raised shares of Bunge from a “hold” rating to a “buy” rating in a research note on Monday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.13.
Bunge Stock Down 2.0 %
Bunge (NYSE:BG – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The basic materials company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.05. Bunge had a net margin of 2.39% and a return on equity of 22.89%. The business had revenue of $16.66 billion for the quarter, compared to the consensus estimate of $18.20 billion. During the same period in the previous year, the firm earned $3.49 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Bunge Limited will post 11.71 EPS for the current year.
Bunge Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, May 18th. Bunge’s dividend payout ratio (DPR) is presently 23.76%.
Bunge Company Profile
Bunge Ltd. operates as a holding company. engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment is involved in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products.
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