Alliancebernstein L.P. cut its holdings in shares of Bunge Ltd (NYSE:BG) by 20.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 169,845 shares of the basic materials company’s stock after selling 43,522 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Bunge worth $11,670,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Cutler Capital Management LLC acquired a new stake in shares of Bunge in the 3rd quarter valued at $206,000. Truvestments Capital LLC acquired a new stake in shares of Bunge in the 2nd quarter valued at $209,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Bunge in the 3rd quarter valued at $220,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Bunge in the 2nd quarter valued at $226,000. Finally, First Hawaiian Bank acquired a new stake in shares of Bunge in the 3rd quarter valued at $273,000. Institutional investors own 79.66% of the company’s stock.
In other Bunge news, Director Grain Co Continental acquired 155,000 shares of the stock in a transaction on Wednesday, November 7th. The shares were bought at an average cost of $63.53 per share, with a total value of $9,847,150.00. Following the transaction, the director now owns 3,319,038 shares of the company’s stock, valued at approximately $210,858,484.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Boehlert acquired 3,200 shares of the stock in a transaction on Monday, November 5th. The shares were acquired at an average cost of $62.68 per share, for a total transaction of $200,576.00. Following the completion of the transaction, the chief financial officer now directly owns 3,200 shares in the company, valued at approximately $200,576. The disclosure for this purchase can be found here. Insiders have purchased a total of 333,200 shares of company stock worth $20,357,881 over the last quarter. 1.25% of the stock is owned by company insiders.
Bunge (NYSE:BG) last announced its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.39 by $0.13. Bunge had a net margin of 0.59% and a return on equity of 7.84%. The business had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period last year, the business earned $0.75 EPS. The company’s revenue was down .1% on a year-over-year basis. Equities analysts expect that Bunge Ltd will post 4.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Tuesday, February 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.36%. Bunge’s dividend payout ratio is currently 103.09%.
A number of brokerages have recently weighed in on BG. ValuEngine lowered shares of Bunge from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Zacks Investment Research lowered shares of Bunge from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. BMO Capital Markets reduced their price objective on shares of Bunge from $87.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Finally, Citigroup reduced their price objective on shares of Bunge from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Bunge currently has an average rating of “Hold” and an average target price of $78.40.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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