Parametric Portfolio Associates LLC Cuts Holdings in Bunge Limited (BG)
Parametric Portfolio Associates LLC lowered its stake in Bunge Limited (NYSE:BG) by 32.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 421,026 shares of the basic materials company’s stock after selling 199,537 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.30% of Bunge Limited worth $31,409,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in BG. Creative Planning raised its holdings in shares of Bunge Limited by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 822 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Bunge Limited in the first quarter valued at approximately $160,000. Janney Montgomery Scott LLC acquired a new stake in shares of Bunge Limited in the second quarter valued at approximately $200,000. Private Bank & Trust Co. acquired a new stake in shares of Bunge Limited in the second quarter valued at approximately $210,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Bunge Limited in the first quarter valued at approximately $235,000. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
Bunge Limited (BG) opened at 69.46 on Friday. The company’s 50-day moving average is $75.41 and its 200-day moving average is $76.87. Bunge Limited has a one year low of $58.19 and a one year high of $83.75. The firm has a market capitalization of $9.77 billion, a P/E ratio of 19.86 and a beta of 1.04.
Bunge Limited (NYSE:BG) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The business had revenue of $11.65 billion during the quarter, compared to analyst estimates of $10.88 billion. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. Bunge Limited’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts forecast that Bunge Limited will post $3.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, November 17th. Bunge Limited’s payout ratio is currently 53.64%.
BG has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Bunge Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $86.00 price objective on shares of Bunge Limited in a report on Tuesday, September 5th. 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. Vertical Group downgraded shares of Bunge Limited from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, BidaskClub downgraded shares of Bunge Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.86.
In related news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $80.00, for a total value of $210,880.00. Following the completion of the sale, the insider now directly owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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