Sterling Manor Financial LLC acquired a new position in Bunge Limited (NYSE:BG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,770 shares of the basic materials company’s stock, valued at approximately $220,000.
Several other large investors have also made changes to their positions in BG. Jeppson Wealth Management LLC acquired a new stake in shares of Bunge in the 3rd quarter worth $27,000. NEXT Financial Group Inc increased its holdings in shares of Bunge by 352.2% in the fourth quarter. NEXT Financial Group Inc now owns 407 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 317 shares during the period. Rosenberg Matthew Hamilton acquired a new position in Bunge during the fourth quarter worth $50,000. Kempen Capital Management N.V. purchased a new stake in Bunge during the fourth quarter worth $70,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Bunge in the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.
A number of brokerages recently commented on BG. Barclays increased their price target on Bunge from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 11th. Bank of America initiated coverage on Bunge in a research report on Wednesday. They set a “neutral” rating and a $88.00 price target on the stock. Credit Suisse Group raised their price objective on Bunge from $72.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, February 11th. Finally, TheStreet raised Bunge from a “c+” rating to a “b” rating in a research report on Wednesday, February 10th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $71.63.
Bunge (NYSE:BG) last released its quarterly earnings results on Tuesday, February 9th. The basic materials company reported $3.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $1.23. Bunge had a net margin of 1.34% and a return on equity of 19.81%. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.92 billion. During the same period in the prior year, the firm earned $1.27 EPS. The business’s revenue was up 16.9% on a year-over-year basis. Equities research analysts forecast that Bunge Limited will post 6.57 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Wednesday, May 19th will be given a $0.50 dividend. The ex-dividend date is Tuesday, May 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.42%. Bunge’s dividend payout ratio is currently 43.67%.
In other Bunge news, insider Raul Padilla sold 1,100 shares of Bunge stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $78.56, for a total value of $86,416.00. Following the completion of the sale, the insider now directly owns 100,946 shares of the company’s stock, valued at $7,930,317.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christos Dimopoulos sold 2,000 shares of the business’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $81.48, for a total transaction of $162,960.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,331 shares of company stock worth $22,743,707. 3.67% of the stock is owned by company insiders.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Fertilizer, 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 primarily wheat and corn; and vegetable oils and protein meals.
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