Chartwell Investment Partners LLC Raises Holdings in Bunge Ltd (BG)
Chartwell Investment Partners LLC grew its position in shares of Bunge Ltd (NYSE:BG) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,780 shares of the basic materials company’s stock after purchasing an additional 853 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Bunge were worth $1,421,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BG. Vanguard Group Inc boosted its stake in shares of Bunge by 1.2% during the third quarter. Vanguard Group Inc now owns 13,753,274 shares of the basic materials company’s stock worth $944,988,000 after buying an additional 160,119 shares during the period. BlackRock Inc. boosted its stake in shares of Bunge by 5.7% during the fourth quarter. BlackRock Inc. now owns 8,990,722 shares of the basic materials company’s stock worth $480,464,000 after buying an additional 486,365 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Bunge by 7,122.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,805,409 shares of the basic materials company’s stock worth $71,000 after buying an additional 3,752,723 shares during the period. Morgan Stanley boosted its stake in shares of Bunge by 618.9% during the third quarter. Morgan Stanley now owns 3,620,854 shares of the basic materials company’s stock worth $248,789,000 after buying an additional 3,117,218 shares during the period. Finally, FMR LLC boosted its stake in shares of Bunge by 8.9% during the fourth quarter. FMR LLC now owns 2,959,161 shares of the basic materials company’s stock worth $158,138,000 after buying an additional 243,072 shares during the period. 82.45% of the stock is currently owned by institutional investors.
Shares of NYSE:BG opened at $52.48 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.54 and a quick ratio of 0.72. The stock has a market capitalization of $7.45 billion, a P/E ratio of 19.29 and a beta of 0.93. Bunge Ltd has a 52 week low of $48.89 and a 52 week high of $76.95.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.50 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. Bunge’s payout ratio is currently 73.53%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Bunge from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. ValuEngine upgraded shares of Bunge from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Morgan Stanley reduced their price objective on shares of Bunge from $84.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, February 25th. BMO Capital Markets restated an “outperform” rating on shares of Bunge in a research report on Friday, February 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of Bunge in a research report on Thursday, March 28th. They issued a “neutral” rating and a $67.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Bunge currently has an average rating of “Hold” and an average target price of $73.33.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.
Further Reading: Balance Sheet
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