United Capital Financial Advisers LLC reduced its stake in shares of Bunge Limited (NYSE:BG – Get Rating) by 34.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,919 shares of the basic materials company’s stock after selling 2,054 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Bunge were worth $324,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BG. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Bunge by 12.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,858 shares of the basic materials company’s stock valued at $1,979,000 after purchasing an additional 1,994 shares during the period. HighTower Advisors LLC bought a new position in Bunge in the first quarter worth about $494,000. Yousif Capital Management LLC raised its holdings in Bunge by 6.5% in the first quarter. Yousif Capital Management LLC now owns 8,767 shares of the basic materials company’s stock worth $971,000 after purchasing an additional 535 shares in the last quarter. Prudential PLC bought a new position in Bunge in the first quarter worth about $530,000. Finally, Vanguard Group Inc. raised its holdings in Bunge by 5.2% in the first quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after purchasing an additional 696,806 shares in the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on BG. StockNews.com upgraded shares of Bunge from a “hold” rating to a “buy” rating in a report on Monday, February 27th. Robert W. Baird downgraded shares of Bunge from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $127.00 to $115.00 in a report on Thursday, February 9th. Finally, UBS Group assumed coverage on shares of Bunge in a report on Tuesday, December 13th. They set a “buy” rating and a $133.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bunge presently has an average rating of “Moderate Buy” and an average target price of $125.13.
Bunge Price Performance
Bunge (NYSE:BG – Get Rating) last issued its earnings results on Wednesday, February 8th. The basic materials company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.05. The firm had revenue of $16.66 billion for the quarter, compared to analyst estimates of $18.20 billion. Bunge had a return on equity of 22.89% and a net margin of 2.39%. Bunge’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.49 earnings per share. On average, sell-side analysts expect that Bunge Limited will post 11.71 earnings per share for the current year.
Bunge Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $2.50 dividend on an annualized basis and a yield of 2.57%. Bunge’s dividend payout ratio is currently 23.76%.
About Bunge
Bunge Ltd. operates as a holding company. engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment is involved in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products.
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