Voloridge Investment Management LLC Purchases New Stake in Bunge Ltd (BG)
Voloridge Investment Management LLC purchased a new position in shares of Bunge Ltd (NYSE:BG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,111 shares of the basic materials company’s stock, valued at approximately $754,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BG. Man Group plc raised its position in Bunge by 55.7% in the 3rd quarter. Man Group plc now owns 111,117 shares of the basic materials company’s stock valued at $7,635,000 after buying an additional 39,772 shares during the last quarter. First National Trust Co increased its position in shares of Bunge by 27.6% during the 4th quarter. First National Trust Co now owns 23,058 shares of the basic materials company’s stock worth $1,232,000 after purchasing an additional 4,984 shares during the last quarter. Robecosam AG increased its position in shares of Bunge by 3.4% during the 4th quarter. Robecosam AG now owns 23,906 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 795 shares during the last quarter. Litespeed Management L.L.C. increased its position in shares of Bunge by 96.9% during the 3rd quarter. Litespeed Management L.L.C. now owns 96,500 shares of the basic materials company’s stock worth $6,631,000 after purchasing an additional 47,500 shares during the last quarter. Finally, North Fourth Asset Management LP acquired a new position in shares of Bunge during the 3rd quarter worth approximately $5,531,000. 81.45% of the stock is currently owned by institutional investors.
BG traded up $0.21 during trading on Tuesday, hitting $51.65. The stock had a trading volume of 26,737 shares, compared to its average volume of 2,242,509. The company has a market capitalization of $7.32 billion, a PE ratio of 18.97 and a beta of 0.93. Bunge Ltd has a one year low of $48.89 and a one year high of $76.95. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 annualized dividend and a yield of 3.87%. Bunge’s dividend payout ratio is presently 73.53%.
Several brokerages have recently commented on BG. Zacks Investment Research downgraded Bunge from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. ValuEngine upgraded Bunge from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Morgan Stanley reduced their price target on Bunge from $84.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, February 25th. BMO Capital Markets restated an “outperform” rating on shares of Bunge in a research note on Friday, February 22nd. Finally, Credit Suisse Group set a $70.00 price target on Bunge and gave the company an “outperform” rating in a research note on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $74.67.
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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.
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