Canada Pension Plan Investment Board Has $35,043,000 Stake in Bunge Limited (BG)
Canada Pension Plan Investment Board held its position in Bunge Limited (NYSE:BG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 469,743 shares of the basic materials company’s stock at the end of the second quarter. Canada Pension Plan Investment Board’s holdings in Bunge Limited were worth $35,043,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Bunge Limited by 1,532.8% in the first quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock worth $633,427,000 after buying an additional 7,502,326 shares in the last quarter. Boussard & Gavaudan Investment Management LLP acquired a new stake in Bunge Limited during the second quarter worth approximately $86,883,000. Vanguard Group Inc. boosted its stake in Bunge Limited by 9.0% in the first quarter. Vanguard Group Inc. now owns 13,226,070 shares of the basic materials company’s stock worth $1,048,298,000 after buying an additional 1,095,696 shares in the last quarter. AQR Capital Management LLC boosted its stake in Bunge Limited by 101.8% in the first quarter. AQR Capital Management LLC now owns 2,026,586 shares of the basic materials company’s stock worth $160,627,000 after buying an additional 1,022,468 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Bunge Limited during the first quarter worth approximately $55,314,000. Institutional investors own 81.69% of the company’s stock.
Shares of Bunge Limited (BG) opened at 77.27 on Friday. The firm’s 50-day moving average price is $77.27 and its 200 day moving average price is $76.56. The company has a market capitalization of $10.86 billion, a PE ratio of 22.09 and a beta of 1.02. Bunge Limited has a 52 week low of $58.19 and a 52 week high of $83.75.
Bunge Limited (NYSE:BG) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. The business had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $10.88 billion. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. Equities analysts predict that Bunge Limited will post $3.94 EPS for the current year.
The company 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.38%. Bunge Limited’s dividend payout ratio is currently 48.98%.
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BG has been the topic of a number of recent analyst reports. Stephens cut Bunge Limited from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 3rd. J P Morgan Chase & Co raised Bunge Limited from an “underweight” rating to a “neutral” rating and set a $70.00 price target on the stock in a report on Thursday, May 4th. BMO Capital Markets reaffirmed a “buy” rating on shares of Bunge Limited in a report on Friday, May 5th. Credit Suisse Group set a $80.00 target price on Bunge Limited and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, BidaskClub cut Bunge Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Bunge Limited presently has an average rating of “Hold” and a consensus target price of $84.83.
In other news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.00, for a total transaction of $210,880.00. Following the completion of the sale, the insider now owns 20,214 shares in the company, valued at approximately $1,617,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by company insiders.
Bunge Limited Company Profile
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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