Meeder Asset Management Inc. increased its stake in Bunge Limited (NYSE:BG) by 20,174.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,071 shares of the basic materials company’s stock after buying an additional 78,681 shares during the quarter. Meeder Asset Management Inc. owned approximately 0.06% of Bunge worth $6,267,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BG. Jeppson Wealth Management LLC bought a new position in Bunge during the 3rd quarter worth $27,000. NEXT Financial Group Inc lifted its holdings in Bunge by 352.2% during the 4th quarter. NEXT Financial Group Inc now owns 407 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 317 shares in the last quarter. First Quadrant L P CA purchased a new stake in Bunge during the 1st quarter worth about $27,000. Rosenberg Matthew Hamilton bought a new position in Bunge in the 4th quarter worth about $50,000. Finally, Kempen Capital Management N.V. bought a new position in shares of Bunge during the 4th quarter valued at about $70,000. 77.44% of the stock is owned by institutional investors and hedge funds.
In related news, Director Bernardo Hees bought 6,400 shares of the stock in a transaction on Tuesday, March 2nd. The stock was bought at an average price of $79.32 per share, for a total transaction of $507,648.00. Following the completion of the acquisition, the director now directly owns 5,075 shares in the company, valued at $402,549. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raul Padilla sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $78.56, for a total value of $86,416.00. Following the sale, the insider now owns 100,946 shares of the company’s stock, valued at approximately $7,930,317.76. The disclosure for this sale can be found here. Insiders sold 283,331 shares of company stock worth $22,743,707 over the last ninety days. Insiders own 3.67% of the company’s stock.
Bunge (NYSE:BG) last released its earnings results on Tuesday, May 4th. The basic materials company reported $3.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $1.59. Bunge had a return on equity of 19.81% and a net margin of 1.34%. The company had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $9.89 billion. During the same period in the previous year, the business earned $0.91 earnings per share. Bunge’s quarterly revenue was up 41.3% compared to the same quarter last year. As a group, analysts anticipate that Bunge Limited will post 6.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 2nd. Stockholders of record on Wednesday, May 19th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, May 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.29%. Bunge’s dividend payout ratio (DPR) is 43.67%.
Several research firms have weighed in on BG. TheStreet upgraded Bunge from a “c+” rating to a “b” rating in a report on Wednesday, February 10th. Credit Suisse Group raised their target price on Bunge from $72.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, February 11th. Bank of America started coverage on Bunge in a research note on Tuesday, April 27th. They issued a “neutral” rating and a $88.00 target price for the company. Finally, Barclays raised their price objective on Bunge from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Bunge presently has a consensus rating of “Buy” and a consensus target price of $71.63.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Fertilizer, and Sugar and Bioenergy. 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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