KBC Group NV boosted its holdings in shares of Bunge Limited (NYSE:BG) by 36.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,194 shares of the basic materials company’s stock after buying an additional 21,359 shares during the quarter. KBC Group NV owned approximately 0.06% of Bunge worth $6,357,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of BG. Jeppson Wealth Management LLC purchased a new position in Bunge in the third quarter worth $27,000. NEXT Financial Group Inc grew its holdings in Bunge by 352.2% in the fourth 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 during the last quarter. Rosenberg Matthew Hamilton purchased a new position in Bunge in the fourth quarter worth $50,000. Kempen Capital Management N.V. purchased a new position in Bunge in the fourth quarter worth $70,000. Finally, Captrust Financial Advisors purchased a new position in Bunge in the fourth quarter worth $73,000. 77.44% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on the stock. TheStreet raised shares of Bunge from a “c+” rating to a “b” rating in a report on Wednesday, February 10th. Credit Suisse Group boosted their price objective on shares of Bunge from $72.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. Bank of America assumed coverage on shares of Bunge in a report on Tuesday, April 27th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of Bunge from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 11th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bunge has a consensus rating of “Buy” and an average target price of $71.63.
Bunge (NYSE:BG) last issued its quarterly earnings data on Tuesday, February 9th. The basic materials company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $1.23. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.92 billion. Bunge had a net margin of 1.34% and a return on equity of 19.81%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Research analysts expect that Bunge Limited will post 6.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Wednesday, May 19th will be given a $0.50 dividend. The ex-dividend date is Tuesday, May 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. Bunge’s dividend payout ratio (DPR) is currently 43.67%.
In related news, Director Bernardo Hees bought 6,400 shares of the business’s stock in a transaction dated Tuesday, March 2nd. The stock was acquired at an average price of $79.32 per share, with a total value of $507,648.00. Following the completion of the purchase, the director now directly owns 5,075 shares of the company’s stock, valued at $402,549. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul J. Fribourg sold 223,676 shares of the business’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $81.10, for a total transaction of $18,140,123.60. Following the sale, the director now directly owns 7,723 shares of the company’s stock, valued at approximately $626,335.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 283,331 shares of company stock valued at $22,743,707. Insiders own 3.67% of the company’s stock.
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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