Comerica Bank Has $699,000 Stake in Bunge Limited (BG)
Comerica Bank trimmed its position in Bunge Limited (NYSE:BG) by 35.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,727 shares of the basic materials company’s stock after selling 4,813 shares during the quarter. Comerica Bank’s holdings in Bunge Limited were worth $699,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in BG. CGOV Asset Management raised its holdings in shares of Bunge Limited by 11.7% in the 1st quarter. CGOV Asset Management now owns 18,650 shares of the basic materials company’s stock valued at $1,969,000 after purchasing an additional 1,950 shares in the last quarter. Suntrust Banks Inc. acquired a new stake in shares of Bunge Limited in the 1st quarter valued at $346,000. TD Asset Management Inc. raised its holdings in shares of Bunge Limited by 5.2% in the 1st quarter. TD Asset Management Inc. now owns 9,682 shares of the basic materials company’s stock valued at $767,000 after purchasing an additional 480 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Bunge Limited in the 1st quarter valued at $2,121,000. Finally, SG Americas Securities LLC raised its holdings in shares of Bunge Limited by 172.3% in the 1st quarter. SG Americas Securities LLC now owns 26,904 shares of the basic materials company’s stock valued at $2,132,000 after purchasing an additional 17,024 shares in the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
A number of equities research analysts have recently weighed in on BG shares. Credit Suisse Group set a $90.00 price objective on shares of Bunge Limited and gave the company a “buy” rating in a report on Tuesday, July 18th. Piper Jaffray Companies restated a “buy” rating and issued a $86.00 price objective on shares of Bunge Limited in a report on Tuesday, September 5th. Zacks Investment Research lowered shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. BidaskClub lowered shares of Bunge Limited from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Vertical Group lowered shares of Bunge Limited from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $83.71.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction 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 transaction, the insider now directly owns 20,214 shares in the company, valued at approximately $1,617,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
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Shares of Bunge Limited (BG) opened at 71.28 on Friday. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 20.38 and a beta of 1.04. Bunge Limited has a 52 week low of $58.19 and a 52 week high of $83.75. The company’s 50-day moving average is $75.41 and its 200 day moving average is $76.87.
Bunge Limited (NYSE:BG) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.07. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The firm had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $10.88 billion. During the same period in the prior year, the firm posted $0.79 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Analysts anticipate that Bunge Limited will post $3.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be paid 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 yield of 2.58%. Bunge Limited’s dividend payout ratio (DPR) is 53.64%.
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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