New York State Common Retirement Fund lifted its stake in shares of Bunge Limited (NYSE:BG – Get Rating) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,727 shares of the basic materials company’s stock after acquiring an additional 4,820 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Bunge worth $16,037,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BG. Curi Wealth Management LLC bought a new position in Bunge in the 4th quarter worth approximately $28,000. Corbenic Partners LLC bought a new position in shares of Bunge during the first quarter worth $34,000. Riverview Trust Co grew its stake in Bunge by 100.5% during the first quarter. Riverview Trust Co now owns 391 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 196 shares in the last quarter. CWM LLC increased its holdings in Bunge by 118.3% in the 1st quarter. CWM LLC now owns 550 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 298 shares during the last quarter. Finally, UMB Bank N A MO purchased a new stake in Bunge in the 4th quarter worth $62,000. Hedge funds and other institutional investors own 86.11% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on BG. Credit Suisse Group cut their price objective on Bunge from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Monness Crespi & Hardt initiated coverage on Bunge in a research note on Wednesday, July 6th. They issued a “buy” rating and a $130.00 price objective on the stock. Barclays raised their target price on shares of Bunge from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 25th. StockNews.com cut shares of Bunge from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Bank of America upgraded shares of Bunge from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $140.00 to $135.00 in a research report on Thursday, June 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.63.
Bunge Stock Performance
Shares of NYSE:BG opened at $96.75 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.33. Bunge Limited has a 12 month low of $73.15 and a 12 month high of $128.40. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.12 and a beta of 0.59. The firm’s 50-day moving average is $96.41 and its 200 day moving average is $104.58.
Bunge (NYSE:BG – Get Rating) last released its earnings results on Wednesday, July 27th. The basic materials company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). Bunge had a net margin of 2.73% and a return on equity of 27.43%. The business had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $18.64 billion. During the same period in the prior year, the company posted $2.61 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts predict that Bunge Limited will post 12.72 EPS for the current year.
Bunge Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This is a boost from Bunge’s previous quarterly dividend of $0.53. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.58%. Bunge’s dividend payout ratio is presently 18.07%.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, 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 processes oilseeds into vegetable oils and protein meals.
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