Sei Investments Co. lifted its position in Bunge Ltd (NYSE:BG) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,112 shares of the basic materials company’s stock after buying an additional 37,121 shares during the quarter. Sei Investments Co. owned about 0.17% of Bunge worth $17,158,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Farallon Capital Management LLC increased its position in Bunge by 557.1% during the first quarter. Farallon Capital Management LLC now owns 690,000 shares of the basic materials company’s stock worth $51,019,000 after acquiring an additional 585,000 shares during the period. Virginia Retirement Systems ET AL bought a new position in Bunge during the second quarter worth $38,152,000. Wells Fargo & Company MN increased its position in Bunge by 67.8% during the second quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock worth $86,718,000 after acquiring an additional 502,598 shares during the period. Alpine Associates Management Inc. bought a new position in Bunge during the first quarter worth $36,145,000. Finally, DnB Asset Management AS bought a new position in Bunge during the second quarter worth $30,362,000. Institutional investors and hedge funds own 79.95% of the company’s stock.
In other Bunge news, insider Jerry Matthews Simmons, Jr. sold 4,122 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $70.30, for a total value of $289,776.60. Following the sale, the insider now owns 10,068 shares of the company’s stock, valued at approximately $707,780.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.25% of the company’s stock.
Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.94). The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $12.03 billion. Bunge’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 earnings per share. analysts expect that Bunge Ltd will post 5.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, November 16th. Bunge’s dividend payout ratio (DPR) is presently 94.85%.
A number of brokerages recently issued reports on BG. Zacks Investment Research raised shares of Bunge from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Friday, August 3rd. Citigroup dropped their target price on shares of Bunge from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Credit Suisse Group dropped their target price on shares of Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 2nd. JPMorgan Chase & Co. lowered shares of Bunge from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research report on Thursday, August 2nd. Finally, ValuEngine lowered shares of Bunge from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $81.14.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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