Price T Rowe Associates Inc. MD raised its position in Bunge Ltd (NYSE:BG) by 10.9% during the second quarter, HoldingsChannel.com reports. The firm owned 14,472,099 shares of the basic materials company’s stock after buying an additional 1,423,416 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.10% of Bunge worth $806,241,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in BG. Bank of Hawaii grew its stake in shares of Bunge by 5.1% in the second quarter. Bank of Hawaii now owns 7,479 shares of the basic materials company’s stock valued at $417,000 after buying an additional 365 shares in the last quarter. Morgan Stanley grew its stake in shares of Bunge by 2.4% in the second quarter. Morgan Stanley now owns 435,031 shares of the basic materials company’s stock valued at $24,236,000 after buying an additional 10,368 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Bunge by 43.6% in the second quarter. AQR Capital Management LLC now owns 609,577 shares of the basic materials company’s stock valued at $33,960,000 after buying an additional 185,128 shares in the last quarter. Brookfield Asset Management Inc. grew its stake in shares of Bunge by 65.5% in the second quarter. Brookfield Asset Management Inc. now owns 38,399 shares of the basic materials company’s stock valued at $2,139,000 after buying an additional 15,200 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Bunge in the second quarter valued at about $3,277,000. Institutional investors own 79.90% of the company’s stock.
In other Bunge news, Director Grain Co Continental acquired 20,000 shares of the stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $52.27 per share, for a total transaction of $1,045,400.00. Following the purchase, the director now directly owns 3,931,155 shares in the company, valued at $205,481,471.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.18% of the stock is owned by company insiders.
Bunge (NYSE:BG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.20. Bunge had a return on equity of 11.39% and a net margin of 1.30%. The firm had revenue of $10.10 billion during the quarter, compared to analyst estimates of $12 billion. During the same quarter last year, the firm earned $0.10 EPS. Bunge’s quarterly revenue was down 16.9% on a year-over-year basis. Equities research analysts forecast that Bunge Ltd will post 3.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.57%. Bunge’s dividend payout ratio (DPR) is presently 73.53%.
A number of research firms have recently issued reports on BG. Zacks Investment Research upgraded Bunge from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Monday. TheStreet upgraded Bunge from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $71.50.
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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