Daiwa Securities Group Inc. held its position in Bunge Ltd. (NYSE:BG) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,400 shares of the company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Bunge were worth $201,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Beech Hill Advisors Inc. bought a new stake in shares of Bunge during the second quarter valued at approximately $225,000. CIBC World Markets Inc. bought a new stake in shares of Bunge during the second quarter valued at approximately $227,000. Independent Portfolio Consultants Inc. increased its stake in shares of Bunge by 2.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,465 shares of the company’s stock valued at $264,000 after buying an additional 105 shares during the last quarter. Mariner Wealth Advisors LLC bought a new stake in shares of Bunge during the first quarter valued at approximately $311,000. Finally, Pacad Investment Ltd. bought a new stake in shares of Bunge during the first quarter valued at approximately $380,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bunge Ltd. (NYSE:BG) traded up 1.53% during midday trading on Thursday, hitting $61.87. The stock had a trading volume of 1,283,841 shares. The firm has a 50-day moving average of $61.68 and a 200 day moving average of $61.31. Bunge Ltd. has a 12-month low of $46.08 and a 12-month high of $79.87. The firm has a market cap of $8.63 billion, a PE ratio of 11.92 and a beta of 0.95.
Bunge (NYSE:BG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.38 by $0.41. The firm earned $10.50 billion during the quarter, compared to analysts’ expectations of $10.08 billion. Bunge had a return on equity of 12.02% and a net margin of 1.90%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, analysts expect that Bunge Ltd. will post $5.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.68 annualized dividend and a yield of 2.72%. Bunge’s dividend payout ratio (DPR) is 32.43%.
Several equities research analysts recently commented on BG shares. Bank of America Corp. upgraded Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $72.00 target price on shares of Bunge in a report on Monday, August 1st. Morgan Stanley restated a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. BB&T Corp. assumed coverage on Bunge in a report on Tuesday, July 12th. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Zacks Investment Research downgraded Bunge from a “buy” rating to a “hold” rating in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $73.13.
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The Edible oil products and milling products segments include businesses that produce and sell edible oil based products, including vegetable oils, shortenings, margarines and mayonnaise, and milled grain products, such as wheat flours, corn-based products and rice.
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