Heartland Advisors Inc. trimmed its stake in Bunge Ltd (NYSE:BG) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,997 shares of the basic materials company’s stock after selling 5,385 shares during the quarter. Heartland Advisors Inc.’s holdings in Bunge were worth $4,092,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Bunge by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,201,141 shares of the basic materials company’s stock valued at $152,892,000 after purchasing an additional 42,428 shares in the last quarter. Marathon Asset Management LLP grew its stake in Bunge by 17.5% in the fourth quarter. Marathon Asset Management LLP now owns 1,107,221 shares of the basic materials company’s stock valued at $74,276,000 after purchasing an additional 165,122 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Bunge by 4.1% during the 3rd quarter. Legal & General Group Plc now owns 907,918 shares of the basic materials company’s stock worth $63,060,000 after acquiring an additional 35,864 shares during the period. Fairpointe Capital LLC boosted its stake in shares of Bunge by 28.6% during the 2nd quarter. Fairpointe Capital LLC now owns 892,032 shares of the basic materials company’s stock worth $66,546,000 after acquiring an additional 198,551 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Bunge by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 553,195 shares of the basic materials company’s stock worth $38,426,000 after acquiring an additional 19,447 shares during the period. Hedge funds and other institutional investors own 77.66% of the company’s stock.
Several research analysts have recently commented on BG shares. Zacks Investment Research downgraded Bunge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 20th. BMO Capital Markets reiterated a “buy” rating and set a $87.00 target price on shares of Bunge in a research note on Monday, November 6th. Vertical Group upgraded Bunge from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group set a $84.00 target price on Bunge and gave the stock a “buy” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Bunge has a consensus rating of “Hold” and an average price target of $81.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be issued a $0.46 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.84 annualized dividend and a yield of 2.28%. Bunge’s dividend payout ratio is presently 57.68%.
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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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