M&G Investment Management Ltd. lowered its stake in Bunge Limited (NYSE:BG – Get Rating) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,965 shares of the basic materials company’s stock after selling 1,714 shares during the quarter. M&G Investment Management Ltd.’s holdings in Bunge were worth $896,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. TAP Consulting LLC bought a new stake in shares of Bunge in the fourth quarter worth $236,000. Allspring Global Investments Holdings LLC raised its stake in Bunge by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 407,729 shares of the basic materials company’s stock valued at $33,665,000 after purchasing an additional 8,928 shares during the period. Exos TFP Holdings LLC bought a new position in Bunge in the 3rd quarter worth approximately $184,000. Credit Suisse AG grew its holdings in Bunge by 10.6% during the 3rd quarter. Credit Suisse AG now owns 320,238 shares of the basic materials company’s stock valued at $26,442,000 after buying an additional 30,763 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of Bunge by 2.5% during the third quarter. Stephens Inc. AR now owns 109,933 shares of the basic materials company’s stock valued at $9,077,000 after buying an additional 2,684 shares during the last quarter. Institutional investors own 82.62% of the company’s stock.
Analyst Upgrades and Downgrades
BG has been the subject of a number of analyst reports. StockNews.com started coverage on Bunge in a research report on Thursday, March 16th. They issued a “buy” rating for the company. UBS Group started coverage on shares of Bunge in a research note on Tuesday, December 13th. They set a “buy” rating and a $133.00 target price for the company. Finally, Robert W. Baird downgraded shares of Bunge from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $127.00 to $115.00 in a research note on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $125.13.
Bunge Price Performance
Bunge (NYSE:BG – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The basic materials company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.19 by $0.05. The firm had revenue of $16.66 billion during the quarter, compared to analyst estimates of $18.20 billion. Bunge had a net margin of 2.39% and a return on equity of 22.89%. Bunge’s revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $3.49 EPS. Research analysts anticipate that Bunge Limited will post 11.83 earnings per share for the current fiscal year.
Bunge Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be given a dividend of $0.625 per share. 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 2.65%. 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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