Russell Investments Group Ltd. Cuts Position in Bunge Limited (NYSE:BG)

Russell Investments Group Ltd. reduced its stake in shares of Bunge Limited (NYSE:BG – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,234 shares of the basic materials company’s stock after selling 827 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Bunge worth $9,103,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Accurate Wealth Management LLC acquired a new stake in Bunge during the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. grew its position in shares of Bunge by 200.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 282 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 188 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Bunge by 96.9% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 382 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 188 shares in the last quarter. Riverview Trust Co grew its position in shares of Bunge by 73.3% in the 4th quarter. Riverview Trust Co now owns 338 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 143 shares in the last quarter. Finally, Pinnacle Holdings LLC acquired a new position in shares of Bunge in the 1st quarter worth approximately $36,000. 82.62% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Stock Up 0.4 %

Shares of Bunge stock opened at $90.30 on Friday. The business’s fifty day moving average price is $94.14 and its two-hundred day moving average price is $96.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.97. The company has a market capitalization of $13.60 billion, a P/E ratio of 8.86 and a beta of 0.65. Bunge Limited has a 1-year low of $80.41 and a 1-year high of $118.99.

Bunge (NYSE:BG – Get Rating) last announced its earnings results on Wednesday, May 3rd. The basic materials company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.13). Bunge had a net margin of 2.33% and a return on equity of 20.13%. The business had revenue of $15.33 billion for the quarter, compared to the consensus estimate of $15.18 billion. During the same period in the previous year, the firm earned $4.26 EPS. The firm’s revenue was down 3.5% on a year-over-year basis. As a group, research analysts forecast that Bunge Limited will post 11.43 EPS for the current year.

Bunge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.6625 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, August 17th. This is an increase from Bunge’s previous quarterly dividend of $0.63. Bunge’s payout ratio is currently 24.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BG. BMO Capital Markets began coverage on Bunge in a research report on Thursday, April 13th. They issued an “outperform” rating and a $120.00 target price for the company. Robert W. Baird lowered 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 report on Thursday, February 9th. Morgan Stanley cut their price target on Bunge from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Thursday, April 13th. Finally, StockNews.com downgraded Bunge from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bunge currently has an average rating of “Moderate Buy” and a consensus target price of $121.22.

Bunge Company Profile

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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.