Riverhead Capital Management LLC grew its holdings in shares of Bunge Limited (NYSE:BG) by 49.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,969 shares of the basic materials company’s stock after buying an additional 25,341 shares during the quarter. Riverhead Capital Management LLC owned 0.05% of Bunge Limited worth $5,742,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank grew its holdings in shares of Bunge Limited by 26.3% during the first quarter. Toronto Dominion Bank now owns 1,526 shares of the basic materials company’s stock valued at $121,000 after buying an additional 318 shares during the last quarter. Creative Planning grew its holdings in shares of Bunge Limited by 99.0% during the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after buying an additional 822 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in shares of Bunge Limited during the first quarter valued at about $160,000. Janney Montgomery Scott LLC acquired a new position in shares of Bunge Limited during the second quarter valued at about $200,000. Finally, Private Bank & Trust Co. acquired a new position in shares of Bunge Limited during the second quarter valued at about $210,000. Hedge funds and other institutional investors own 80.36% of the company’s stock.
Shares of Bunge Limited (NYSE:BG) traded down 5.64% during mid-day trading on Tuesday, reaching $71.48. 724,161 shares of the company’s stock traded hands. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 20.43 and a beta of 1.04. Bunge Limited has a 12-month low of $58.19 and a 12-month high of $83.75. The firm’s 50 day moving average price is $76.68 and its 200-day moving average price is $77.27.
Bunge Limited (NYSE:BG) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The firm had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $10.88 billion. During the same quarter last year, the firm posted $0.79 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Bunge Limited will post $3.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, November 17th. Bunge Limited’s dividend payout ratio (DPR) is presently 53.64%.
A number of research analysts recently weighed in on the stock. Piper Jaffray Companies set a $86.00 price target on shares of Bunge Limited and gave the company a “buy” rating in a research report on Thursday, August 3rd. Robert W. Baird assumed coverage on shares of Bunge Limited in a research report on Monday. They set a “neutral” rating and a $77.00 price target on the stock. J P Morgan Chase & Co lowered shares of Bunge Limited to a “neutral – underweight” rating and set a $70.00 price target on the stock. in a research report on Tuesday, July 4th. Credit Suisse Group raised their price target on shares of Bunge Limited from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, June 9th. Finally, Zacks Investment Research raised shares of Bunge Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $83.71.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.00, for a total value of $210,880.00. Following the transaction, the insider now owns 20,214 shares in the company, valued at approximately $1,617,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
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Bunge Limited Company Profile
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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