Korea Investment CORP Sells 14,141 Shares of Bunge Limited (NYSE:BG)
Korea Investment CORP lowered its stake in Bunge Limited (NYSE:BG) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,594 shares of the basic materials company’s stock after selling 14,141 shares during the period. Korea Investment CORP’s holdings in Bunge Limited were worth $8,325,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Hermes Investment Management Ltd. increased its position in Bunge Limited by 6.0% in the first quarter. Hermes Investment Management Ltd. now owns 64,484 shares of the basic materials company’s stock valued at $5,111,000 after buying an additional 3,670 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Bunge Limited during the first quarter valued at $1,506,000. Rothschild Investment Corp IL increased its position in Bunge Limited by 182.3% in the first quarter. Rothschild Investment Corp IL now owns 8,052 shares of the basic materials company’s stock valued at $638,000 after buying an additional 5,200 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Bunge Limited by 61.1% in the first quarter. Nisa Investment Advisors LLC now owns 69,800 shares of the basic materials company’s stock valued at $5,532,000 after buying an additional 26,470 shares during the last quarter. Finally, DnB Asset Management AS increased its position in Bunge Limited by 1.7% in the first quarter. DnB Asset Management AS now owns 414,253 shares of the basic materials company’s stock valued at $32,834,000 after buying an additional 7,100 shares during the last quarter. 81.69% of the stock is owned by institutional investors.
Bunge Limited (BG) opened at 76.93 on Thursday. The firm has a market cap of $10.85 billion, a PE ratio of 21.93 and a beta of 1.02. Bunge Limited has a one year low of $58.19 and a one year high of $83.75. The company has a 50-day moving average price of $77.15 and a 200-day moving average price of $76.49.
Bunge Limited (NYSE:BG) last issued its quarterly earnings data 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 firm had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $10.88 billion. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. Bunge Limited’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. Equities analysts predict that Bunge Limited will post $4.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.39%. Bunge Limited’s dividend payout ratio is presently 48.98%.
Several research firms have weighed in on BG. Credit Suisse Group reissued a “hold” rating and set a $80.00 price target on shares of Bunge Limited in a research report on Thursday, May 25th. Zacks Investment Research upgraded Bunge Limited from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Piper Jaffray Companies restated a “buy” rating and set a $84.00 price objective on shares of Bunge Limited in a report on Friday, July 21st. BMO Capital Markets set a $87.00 price objective on Bunge Limited and gave the stock a “buy” rating in a report on Monday, June 12th. Finally, BidaskClub cut Bunge Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. One 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. The company has an average rating of “Hold” and an average price target of $84.83.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction dated 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 directly owns 20,214 shares in the company, valued at $1,617,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
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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