9258 Wealth Management LLC Lowers Stake in Bunge Ltd (NYSE:BG)

9258 Wealth Management LLC trimmed its holdings in Bunge Ltd (NYSE:BG) by 11.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,775 shares of the basic materials company’s stock after selling 491 shares during the quarter. 9258 Wealth Management LLC’s holdings in Bunge were worth $200,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Bunge by 753.6% during the third quarter. JPMorgan Chase & Co. now owns 540,719 shares of the basic materials company’s stock valued at $37,153,000 after buying an additional 477,370 shares during the period. LPL Financial LLC bought a new position in Bunge in the third quarter valued at approximately $257,000. TIAA CREF Investment Management LLC boosted its stake in Bunge by 15.6% in the third quarter. TIAA CREF Investment Management LLC now owns 1,369,539 shares of the basic materials company’s stock valued at $94,101,000 after acquiring an additional 184,984 shares during the last quarter. Legal & General Group Plc boosted its stake in Bunge by 8.9% in the third quarter. Legal & General Group Plc now owns 891,973 shares of the basic materials company’s stock valued at $61,269,000 after acquiring an additional 72,789 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Bunge by 618.9% in the third quarter. Morgan Stanley now owns 3,620,854 shares of the basic materials company’s stock valued at $248,789,000 after acquiring an additional 3,117,218 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

A number of equities analysts have issued reports on BG shares. JPMorgan Chase & Co. started coverage on shares of Bunge in a research note on Thursday, March 28th. They issued a “neutral” rating and a $67.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bunge in a report on Friday, February 22nd. Morgan Stanley reduced their target price on shares of Bunge from $84.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, February 25th. ValuEngine raised shares of Bunge from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Finally, Zacks Investment Research raised shares of Bunge from a “strong sell” rating to a “hold” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Bunge has an average rating of “Hold” and a consensus target price of $73.33.

In other news, CEO Gregory A. Heckman acquired 38,588 shares of Bunge stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $51.93 per share, with a total value of $2,003,874.84. Following the purchase, the chief executive officer now owns 55,054 shares in the company, valued at approximately $2,858,954.22. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Henry Ward Iv Winship acquired 4,000 shares of Bunge stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $51.40 per share, for a total transaction of $205,600.00. Following the completion of the purchase, the director now owns 6,086 shares in the company, valued at approximately $312,820.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 212,588 shares of company stock valued at $10,882,275. Corporate insiders own 3.18% of the company’s stock.

Shares of NYSE:BG traded down $0.20 during midday trading on Tuesday, hitting $56.20. The stock had a trading volume of 1,423,711 shares, compared to its average volume of 1,675,464. The stock has a market capitalization of $7.99 billion, a PE ratio of 20.66 and a beta of 0.83. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.76. Bunge Ltd has a fifty-two week low of $47.26 and a fifty-two week high of $73.13.

Bunge (NYSE:BG) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.03 by $0.33. Bunge had a net margin of 0.74% and a return on equity of 7.81%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $10.67 billion. During the same period in the previous year, the company earned ($0.06) EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts predict that Bunge Ltd will post 2.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, August 19th. Bunge’s dividend payout ratio (DPR) is currently 73.53%.

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About Bunge

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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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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