O Brien Greene & Co. Inc bought a new stake in Bunge Limited (NYSE:BG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,150 shares of the basic materials company’s stock, valued at approximately $250,000.
Other institutional investors have also bought and sold shares of the company. FWL Investment Management LLC acquired a new position in shares of Bunge during the 4th quarter worth about $2,787,000. Victory Capital Management Inc. grew its position in shares of Bunge by 170.6% in the 4th quarter. Victory Capital Management Inc. now owns 53,457 shares of the basic materials company’s stock valued at $3,506,000 after buying an additional 33,700 shares during the last quarter. California Public Employees Retirement System boosted its stake in Bunge by 4.0% in the fourth quarter. California Public Employees Retirement System now owns 972,606 shares of the basic materials company’s stock valued at $63,784,000 after acquiring an additional 37,313 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Bunge by 0.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 51,971 shares of the basic materials company’s stock worth $3,408,000 after purchasing an additional 180 shares during the last quarter. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Bunge during the fourth quarter worth about $50,000. Institutional investors own 81.07% of the company’s stock.
Several research firms have commented on BG. Barclays lifted their price target on Bunge from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 6th. Bank of America began coverage on shares of Bunge in a research note on Wednesday, April 21st. They set a “neutral” rating and a $88.00 price target for the company. Credit Suisse Group raised their price objective on shares of Bunge from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 5th. Finally, Morgan Stanley boosted their price target on Bunge from $72.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, May 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Bunge has a consensus rating of “Buy” and an average target price of $81.86.
Bunge (NYSE:BG) last released its quarterly earnings results on Monday, May 3rd. The basic materials company reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $1.58. The business had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Bunge had a return on equity of 35.47% and a net margin of 4.75%. The company’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, analysts anticipate that Bunge Limited will post 7.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 2nd. Stockholders of record on Thursday, August 19th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, August 18th. This is an increase from Bunge’s previous quarterly dividend of $0.50. Bunge’s payout ratio is 24.10%.
In other news, Director Paul J. Fribourg sold 155,650 shares of the company’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $89.04, for a total value of $13,859,076.00. Following the sale, the director now directly owns 9,327 shares in the company, valued at $830,476.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg sold 155,700 shares of the stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $88.53, for a total value of $13,784,121.00. Following the sale, the director now directly owns 9,327 shares in the company, valued at approximately $825,719.31. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Fertilizer, 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 vegetable oils and protein meals.
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