Bunge Ltd (BG) Position Boosted by SG Americas Securities LLC
SG Americas Securities LLC raised its stake in shares of Bunge Ltd (NYSE:BG) by 254.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,309 shares of the basic materials company’s stock after purchasing an additional 30,357 shares during the quarter. SG Americas Securities LLC’s holdings in Bunge were worth $2,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in Bunge by 7,200.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,460 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 1,440 shares during the last quarter. Point72 Asia Hong Kong Ltd lifted its position in Bunge by 272.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,784 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 1,305 shares during the last quarter. Stephens Inc. AR bought a new stake in Bunge during the first quarter valued at approximately $209,000. IBM Retirement Fund bought a new stake in shares of Bunge in the 1st quarter worth approximately $229,000. Finally, Ostrum Asset Management bought a new stake in shares of Bunge in the 1st quarter worth approximately $242,000. Institutional investors and hedge funds own 80.84% of the company’s stock.
Shares of BG opened at $64.18 on Friday. The company has a market capitalization of $8.86 billion, a PE ratio of 43.15 and a beta of 1.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 0.71. Bunge Ltd has a fifty-two week low of $61.28 and a fifty-two week high of $83.20.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.12%. Bunge’s dividend payout ratio is currently 103.09%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Friday, August 3rd. Citigroup lowered their price objective on shares of Bunge from $100.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Credit Suisse Group lowered their price objective on shares of Bunge from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 2nd. JPMorgan Chase & Co. lowered shares of Bunge from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $75.00 in a report on Thursday, August 2nd. Finally, ValuEngine lowered shares of Bunge from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.14.
In related news, insider Jerry Matthews Simmons, Jr. sold 4,122 shares of the company’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $70.30, for a total transaction of $289,776.60. Following the completion of the sale, the insider now directly owns 10,068 shares in the company, valued at approximately $707,780.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.25% of the company’s stock.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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