California State Teachers Retirement System lessened its stake in Bunge Limited (NYSE:BG) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,098 shares of the basic materials company’s stock after selling 21,193 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Bunge Limited worth $19,702,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BG. CGOV Asset Management grew its stake in Bunge Limited by 11.7% in the 1st quarter. CGOV Asset Management now owns 18,650 shares of the basic materials company’s stock worth $1,969,000 after buying an additional 1,950 shares in the last quarter. Comerica Bank grew its stake in Bunge Limited by 2.2% in the 1st quarter. Comerica Bank now owns 13,540 shares of the basic materials company’s stock worth $1,063,000 after buying an additional 294 shares in the last quarter. Victory Capital Management Inc. grew its stake in Bunge Limited by 34.5% in the 1st quarter. Victory Capital Management Inc. now owns 13,086 shares of the basic materials company’s stock worth $1,037,000 after buying an additional 3,359 shares in the last quarter. Ngam Advisors L.P. grew its stake in Bunge Limited by 4.2% in the 1st quarter. Ngam Advisors L.P. now owns 10,638 shares of the basic materials company’s stock worth $843,000 after buying an additional 432 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Bunge Limited in the 1st quarter worth approximately $340,000. 80.34% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 20,214 shares of the company’s stock, valued at $1,617,120. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Shares of Bunge Limited (NYSE:BG) opened at 70.72 on Tuesday. Bunge Limited has a 52 week low of $58.49 and a 52 week high of $83.75. The stock has a market cap of $9.94 billion, a PE ratio of 20.22 and a beta of 1.01. The stock has a 50 day moving average of $71.85 and a 200-day moving average of $75.45.
Bunge Limited (NYSE:BG) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share 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 during the quarter, compared to analyst estimates of $10.88 billion. During the same period last year, the firm posted $0.79 earnings per share. Bunge Limited’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts predict that Bunge Limited will post $3.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, November 17th. Bunge Limited’s dividend payout ratio (DPR) is presently 53.64%.
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A number of research firms have commented on BG. Citigroup Inc. cut shares of Bunge Limited from a “buy” rating to a “neutral” rating and set a $75.00 price target for the company. in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Bunge Limited from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price target on shares of Bunge Limited in a research note on Friday, July 21st. J P Morgan Chase & Co cut shares of Bunge Limited to a “neutral – underweight” rating and set a $70.00 price target 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 analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $81.86.
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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