Bunge Limited (BG) Position Reduced by M&T Bank Corp
M&T Bank Corp cut its stake in shares of Bunge Limited (NYSE:BG) by 8.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,454 shares of the basic materials company’s stock after selling 1,295 shares during the period. M&T Bank Corp’s holdings in Bunge Limited were worth $1,078,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Creative Planning grew its position in shares of Bunge Limited by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 822 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in shares of Bunge Limited during the 1st quarter worth about $160,000. Janney Montgomery Scott LLC acquired a new position in shares of Bunge Limited during the 2nd quarter worth about $200,000. Private Bank & Trust Co. acquired a new position in shares of Bunge Limited during the 2nd quarter worth about $210,000. Finally, HighTower Advisors LLC acquired a new position in shares of Bunge Limited during the 1st quarter worth about $235,000. Institutional investors own 80.34% of the company’s stock.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 20,214 shares in the company, valued at $1,617,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.
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Bunge Limited (NYSE BG) opened at 69.46 on Monday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 19.86 and a beta of 1.01. The firm’s 50-day moving average price is $75.41 and its 200-day moving average price is $76.87. Bunge Limited has a 1-year low of $58.19 and a 1-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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. The firm had revenue of $11.65 billion for the quarter, compared to analyst estimates of $10.88 billion. Bunge Limited’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities research analysts anticipate that Bunge Limited will post $3.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be issued a $0.46 dividend. The ex-dividend date is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.65%. Bunge Limited’s dividend payout ratio (DPR) is 53.64%.
Several research firms recently issued reports on BG. Zacks Investment Research lowered Bunge Limited from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 target price on shares of Bunge Limited in a research report on Friday, July 21st. BidaskClub lowered Bunge Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. lowered Bunge Limited from a “buy” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research note on Thursday. Finally, BMO Capital Markets set a $87.00 price target on Bunge Limited and gave the stock a “buy” rating in a research report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.86.
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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