Robeco Institutional Asset Management B.V. decreased its stake in shares of Bunge Ltd (NYSE:BG) by 6.0% during the first quarter, HoldingsChannel reports. The firm owned 18,937 shares of the basic materials company’s stock after selling 1,205 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Bunge were worth $1,005,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in Bunge during the 4th quarter worth about $27,000. First Mercantile Trust Co. lifted its holdings in Bunge by 44.6% during the 4th quarter. First Mercantile Trust Co. now owns 1,200 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 370 shares in the last quarter. LPL Financial LLC purchased a new stake in Bunge during the 3rd quarter worth about $257,000. HRT Financial LLC purchased a new stake in Bunge during the 4th quarter worth about $211,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Bunge during the 1st quarter worth about $222,000. 82.60% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. ValuEngine cut Bunge from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. Zacks Investment Research upgraded Bunge from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. initiated coverage on Bunge in a research note on Thursday, March 28th. They issued a “neutral” rating and a $67.00 target price on the stock. Morgan Stanley decreased their target price on Bunge from $84.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, February 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Bunge in a research note on Friday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.33.
Bunge (NYSE:BG) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.33. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $10.67 billion. Bunge had a return on equity of 7.81% and a net margin of 0.74%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. Research analysts forecast that Bunge Ltd will post 2.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $0.50 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 3.83%. Bunge’s dividend payout ratio is currently 73.53%.
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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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