Laurion Capital Management LP bought a new position in shares of Bunge Ltd (NYSE:BG) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 34,615 shares of the basic materials company’s stock, valued at approximately $1,837,000.
A number of other institutional investors have also modified their holdings of BG. Oregon Public Employees Retirement Fund grew its holdings in Bunge by 7,122.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,805,409 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 3,752,723 shares in the last quarter. Morgan Stanley grew its holdings in Bunge by 618.9% during the 3rd quarter. Morgan Stanley now owns 3,620,854 shares of the basic materials company’s stock worth $248,789,000 after acquiring an additional 3,117,218 shares in the last quarter. Norges Bank bought a new position in Bunge during the 4th quarter worth about $69,827,000. BlackRock Inc. grew its holdings in Bunge by 5.7% during the 4th quarter. BlackRock Inc. now owns 8,990,722 shares of the basic materials company’s stock worth $480,464,000 after acquiring an additional 486,365 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Bunge by 753.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 540,719 shares of the basic materials company’s stock worth $37,153,000 after acquiring an additional 477,370 shares in the last quarter. Institutional investors own 82.60% of the company’s stock.
Several research analysts have issued reports on the stock. ValuEngine cut shares of Bunge from a “hold” rating to a “sell” rating in a report on Monday, February 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Bunge in a report on Friday, February 22nd. Morgan Stanley dropped their target price on shares of Bunge from $84.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, February 25th. Zacks Investment Research cut shares of Bunge from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bunge in a research report on Thursday, March 28th. They set a “neutral” rating and a $67.00 price target for the company. One investment 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $73.33.
Bunge (NYSE:BG) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.33. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $10.67 billion. Bunge had a net margin of 0.74% and a return on equity of 7.81%. Bunge’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted ($0.06) EPS. Analysts predict that Bunge Ltd will post 2.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, May 17th. Bunge’s payout ratio is currently 73.53%.
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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