BlackRock Inc. cut its stake in Bunge Ltd (NYSE:BG) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,796,319 shares of the basic materials company’s stock after selling 194,403 shares during the period. BlackRock Inc. owned approximately 6.22% of Bunge worth $466,818,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Bunge by 7,122.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,805,409 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 3,752,723 shares during the period. Norges Bank purchased a new stake in shares of Bunge during the fourth quarter valued at approximately $69,827,000. BNP Paribas Arbitrage SA raised its stake in shares of Bunge by 849.1% during the first quarter. BNP Paribas Arbitrage SA now owns 355,054 shares of the basic materials company’s stock valued at $18,843,000 after purchasing an additional 317,644 shares during the period. Marathon Asset Management LLP raised its stake in shares of Bunge by 24.8% during the first quarter. Marathon Asset Management LLP now owns 1,591,965 shares of the basic materials company’s stock valued at $84,486,000 after purchasing an additional 315,903 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Bunge by 60.7% during the fourth quarter. Nordea Investment Management AB now owns 753,322 shares of the basic materials company’s stock valued at $40,256,000 after purchasing an additional 284,688 shares during the period. 80.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Brian Zachman bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $51.28 per share, with a total value of $512,800.00. Following the completion of the transaction, the insider now directly owns 24,611 shares of the company’s stock, valued at $1,262,052.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory A. Heckman bought 38,588 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 55,054 shares of the company’s stock, valued at $2,858,954.22. The disclosure for this purchase can be found here. In the last three months, insiders purchased 212,588 shares of company stock valued at $10,882,275. 3.18% of the stock is currently owned by company insiders.
Bunge (NYSE:BG) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.33. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $10.67 billion. Bunge had a return on equity of 7.81% and a net margin of 0.74%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. Equities research analysts expect that Bunge Ltd will post 2.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $0.50 dividend. The ex-dividend date is Monday, August 19th. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. Bunge’s payout ratio is 73.53%.
A number of analysts recently issued reports on BG shares. ValuEngine lowered shares of Bunge from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Zacks Investment Research raised shares of Bunge from a “strong sell” rating to a “hold” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bunge in a report on Thursday, March 28th. They issued a “neutral” rating and a $67.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.33.
Bunge Company Profile
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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