US Bancorp DE lowered its position in shares of Bunge Ltd (NYSE:BG) by 22.6% in the first quarter, Holdings Channel reports. The institutional investor owned 7,549 shares of the basic materials company’s stock after selling 2,202 shares during the period. US Bancorp DE’s holdings in Bunge were worth $400,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its holdings in shares of Bunge by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 4,768 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 230 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Bunge by 3.1% in the 4th quarter. CIBC Asset Management Inc now owns 9,421 shares of the basic materials company’s stock valued at $503,000 after purchasing an additional 280 shares in the last quarter. Comerica Bank increased its holdings in shares of Bunge by 4.0% in the 1st quarter. Comerica Bank now owns 8,458 shares of the basic materials company’s stock valued at $448,000 after purchasing an additional 327 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Bunge by 44.6% in the 4th quarter. First Mercantile Trust Co. now owns 1,200 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 370 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Bunge by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,489 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 439 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.
In other news, CEO Gregory A. Heckman purchased 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 purchase, the chief executive officer now directly owns 55,054 shares of the company’s stock, valued at $2,858,954.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Ward Iv Winship purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were 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 directly owns 6,086 shares in the company, valued at $312,820.40. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 212,588 shares of company stock worth $10,882,275. 3.18% of the stock is owned by corporate insiders.
BG has been the subject of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Bunge in a report on Friday, February 22nd. Morgan Stanley cut their price target 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 upgraded shares of Bunge from a “sell” rating to a “hold” rating in a report on Monday, February 25th. 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 target for the company. Finally, Zacks Investment Research upgraded shares of Bunge from a “strong sell” rating to a “hold” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $73.33.
NYSE BG traded up $0.07 during trading hours on Friday, reaching $57.57. The company’s stock had a trading volume of 18,959 shares, compared to its average volume of 1,463,249. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 21.08 and a beta of 0.84. Bunge Ltd has a fifty-two week low of $47.26 and a fifty-two week high of $73.13. 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 (NYSE:BG) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.33. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $10.67 billion. Bunge had a net margin of 0.74% and a return on equity of 7.81%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) EPS. As a group, research analysts expect that Bunge Ltd will post 2.78 earnings per share for the current year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.47%. Bunge’s payout ratio is 73.53%.
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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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