PFG Advisors boosted its position in shares of Bunge Limited (NYSE:BG – Free Report) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,577 shares of the basic materials company’s stock after purchasing an additional 367 shares during the period. PFG Advisors’ holdings in Bunge were worth $246,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Bunge by 5.2% during 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 during the period. State Street Corp raised its stake in shares of Bunge by 6.4% in the 1st quarter. State Street Corp now owns 4,182,611 shares of the basic materials company’s stock valued at $463,059,000 after acquiring an additional 249,813 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Bunge by 124.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,703,579 shares of the basic materials company’s stock valued at $223,236,000 after acquiring an additional 1,500,367 shares during the period. Norges Bank purchased a new stake in shares of Bunge in the 4th quarter valued at approximately $186,143,000. Finally, Amundi raised its stake in shares of Bunge by 10.9% in the 4th quarter. Amundi now owns 1,405,486 shares of the basic materials company’s stock valued at $139,061,000 after acquiring an additional 138,563 shares during the period. 84.60% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BG. StockNews.com began coverage on shares of Bunge in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays reduced their price target on shares of Bunge from $125.00 to $121.00 in a research note on Thursday, June 1st. Robert W. Baird reduced their price target on shares of Bunge from $115.00 to $110.00 in a research note on Wednesday, June 14th. 51job reissued an “initiates” rating on shares of Bunge in a research note on Thursday, June 22nd. Finally, Morgan Stanley cut their target price on shares of Bunge from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.
Bunge Trading Up 2.7 %
Bunge (NYSE:BG – Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.13). Bunge had a return on equity of 20.13% and a net margin of 2.33%. The business had revenue of $15.33 billion for the quarter, compared to analysts’ expectations of $15.18 billion. During the same period in the previous year, the business posted $4.26 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, research analysts expect that Bunge Limited will post 11.59 EPS for the current fiscal year.
Bunge Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.6625 per share. This is an increase from Bunge’s previous quarterly dividend of $0.63. This represents a $2.65 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, August 17th. Bunge’s dividend payout ratio (DPR) is presently 24.53%.
Bunge Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.
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