Bank of Montreal Can boosted its position in Bunge Limited (NYSE:BG) by 275.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 689,926 shares of the basic materials company’s stock after buying an additional 505,933 shares during the period. Bank of Montreal Can owned approximately 0.49% of Bunge Limited worth $51,468,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BG. CGOV Asset Management raised its position in shares of Bunge Limited by 11.7% in the first 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 during the period. Americafirst Capital Management LLC raised its position in shares of Bunge Limited by 655.2% in the first quarter. Americafirst Capital Management LLC now owns 23,594 shares of the basic materials company’s stock worth $1,870,000 after buying an additional 20,470 shares during the period. Fox Run Management L.L.C. raised its position in shares of Bunge Limited by 78.0% in the first quarter. Fox Run Management L.L.C. now owns 14,600 shares of the basic materials company’s stock worth $1,157,000 after buying an additional 6,400 shares during the period. Atria Investments LLC increased its stake in shares of Bunge Limited by 6.3% in the first quarter. Atria Investments LLC now owns 3,428 shares of the basic materials company’s stock valued at $272,000 after buying an additional 202 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its stake in shares of Bunge Limited by 846.2% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,952 shares of the basic materials company’s stock valued at $234,000 after buying an additional 2,640 shares in the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
Shares of Bunge Limited (NYSE:BG) traded down 0.36% during mid-day trading on Tuesday, hitting $76.98. The stock had a trading volume of 1,118,662 shares. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 21.94 and a beta of 1.02. The company has a 50-day moving average of $77.15 and a 200 day moving average of $76.24. Bunge Limited has a one year low of $58.19 and a one year high of $83.75.
Bunge Limited (NYSE:BG) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.10 by $0.07. The company had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $10.88 billion. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities research analysts forecast that Bunge Limited will post $4.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors 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 2.39%. Bunge Limited’s dividend payout ratio (DPR) is currently 48.98%.
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BG has been the subject of several recent research reports. BMO Capital Markets reaffirmed a “buy” rating on shares of Bunge Limited in a report on Monday, May 15th. Credit Suisse Group set a $80.00 target price on Bunge Limited and gave the company a “buy” rating in a report on Thursday, May 4th. Citigroup Inc. cut their price target on Bunge Limited from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, July 12th. Piper Jaffray Companies set a $79.00 price target on Bunge Limited and gave the stock a “buy” rating in a research note on Friday, July 14th. Finally, Stephens cut Bunge Limited from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Bunge Limited currently has an average rating of “Hold” and an average price target of $84.83.
In related news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.00, for a total value of $210,880.00. Following the completion of the sale, the insider now directly owns 20,214 shares in the company, valued at $1,617,120. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.
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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