Perigon Wealth Management LLC Decreases Stock Position in Bunge Limited (NYSE:BG)

Perigon Wealth Management LLC lessened its stake in shares of Bunge Limited (NYSE:BG – Get Rating) by 21.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,076 shares of the basic materials company’s stock after selling 828 shares during the period. Perigon Wealth Management LLC’s holdings in Bunge were worth $254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BG. Bank of New York Mellon Corp increased its stake in Bunge by 124.7% in the third quarter. Bank of New York Mellon Corp now owns 2,703,579 shares of the basic materials company’s stock worth $223,236,000 after purchasing an additional 1,500,367 shares during the period. Vanguard Group Inc. increased its stake in Bunge by 5.2% in the first quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after purchasing an additional 696,806 shares during the period. Renaissance Technologies LLC purchased a new stake in Bunge in the first quarter worth $74,642,000. Balyasny Asset Management LLC increased its stake in Bunge by 1,017.9% in the third quarter. Balyasny Asset Management LLC now owns 730,034 shares of the basic materials company’s stock worth $60,279,000 after purchasing an additional 664,732 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in 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 purchasing an additional 536,078 shares during the period. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Bunge Price Performance

Shares of BG stock opened at $92.11 on Friday. Bunge Limited has a 1-year low of $80.41 and a 1-year high of $128.40. The stock’s 50-day moving average is $97.75 and its 200 day moving average is $95.92. The company has a market cap of $13.81 billion, a P/E ratio of 8.76 and a beta of 0.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.75 and a quick ratio of 0.87.

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 for the quarter, beating analysts’ consensus estimates of $3.19 by $0.05. Bunge had a return on equity of 22.89% and a net margin of 2.39%. The company had revenue of $16.66 billion for the quarter, compared to the consensus estimate of $18.20 billion. During the same quarter last year, the company earned $3.49 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts predict that Bunge Limited will post 11.83 earnings per share for the current fiscal year.

Bunge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, May 18th. Bunge’s dividend payout ratio (DPR) is presently 23.76%.

Analysts Set New Price Targets

A number of research firms have weighed in on BG. UBS Group assumed coverage on Bunge in a research note on Tuesday, December 13th. They issued a “buy” rating and a $133.00 target price on the stock. StockNews.com assumed coverage on Bunge in a research report on Thursday. They set a “buy” rating on the stock. Finally, Robert W. Baird downgraded Bunge from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $127.00 to $115.00 in a research report on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.13.

About Bunge

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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.