Janus Capital Management LLC decreased its stake in Bunge Limited (NYSE:BG) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,400 shares of the basic materials company’s stock after selling 900 shares during the period. Janus Capital Management LLC’s holdings in Bunge Limited were worth $904,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Bunge Limited by 13.3% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,400 shares of the basic materials company’s stock valued at $745,000 after buying an additional 1,100 shares during the period. HighTower Advisors LLC purchased a new position in shares of Bunge Limited during the first quarter valued at $235,000. Credit Suisse AG increased its position in shares of Bunge Limited by 23.6% in the first quarter. Credit Suisse AG now owns 445,270 shares of the basic materials company’s stock valued at $35,292,000 after buying an additional 85,065 shares during the last quarter. Tudor Investment Corp ET AL increased its position in shares of Bunge Limited by 277.3% in the first quarter. Tudor Investment Corp ET AL now owns 14,716 shares of the basic materials company’s stock valued at $1,166,000 after buying an additional 10,816 shares during the last quarter. Finally, Barings LLC increased its position in shares of Bunge Limited by 37.3% in the first quarter. Barings LLC now owns 29,366 shares of the basic materials company’s stock valued at $2,328,000 after buying an additional 7,981 shares during the last quarter. 80.68% of the stock is owned by institutional investors and hedge funds.
Bunge Limited (NYSE BG) opened at 79.63 on Friday. Bunge Limited has a 52 week low of $58.19 and a 52 week high of $83.75. The company has a 50-day moving average of $77.31 and a 200 day moving average of $75.68. The firm has a market cap of $11.18 billion, a P/E ratio of 21.13 and a beta of 1.01.
Bunge Limited (NYSE:BG) last announced its earnings results on Wednesday, May 3rd. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.68 by $0.33. Bunge Limited had a net margin of 1.23% and a return on equity of 8.03%. The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts predict that Bunge Limited will post $4.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.31%. This is an increase from Bunge Limited’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, August 18th. Bunge Limited’s dividend payout ratio is currently 45.41%.
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BG has been the subject of several analyst reports. Credit Suisse Group AG set a $90.00 target price on shares of Bunge Limited and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets reissued a “buy” rating on shares of Bunge Limited in a research note on Friday, May 5th. Zacks Investment Research downgraded shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. J P Morgan Chase & Co downgraded shares of Bunge Limited to a “neutral - underweight” rating and set a $70.00 target price for the company. in a research note on Tuesday, July 4th. Finally, BidaskClub raised shares of Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.50.
About Bunge Limited
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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