CoreCommodity Management LLC decreased its position in Bunge Ltd (NYSE:BG) by 23.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,912 shares of the basic materials company’s stock after selling 13,691 shares during the period. Bunge makes up 2.1% of CoreCommodity Management LLC’s holdings, making the stock its 7th biggest holding. CoreCommodity Management LLC’s holdings in Bunge were worth $2,454,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in Bunge in the fourth quarter valued at $27,000. First Mercantile Trust Co. lifted its holdings in Bunge by 44.6% in the fourth quarter. First Mercantile Trust Co. now owns 1,200 shares of the basic materials company’s stock valued at $64,000 after buying an additional 370 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Bunge by 7,122.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,805,409 shares of the basic materials company’s stock valued at $71,000 after buying an additional 3,752,723 shares during the period. Acropolis Investment Management LLC acquired a new position in Bunge in the fourth quarter valued at $154,000. Finally, Veritable L.P. acquired a new position in Bunge in the third quarter valued at $206,000. Institutional investors and hedge funds own 81.50% of the company’s stock.
A number of equities analysts have recently commented on the stock. Citigroup decreased their price target on shares of Bunge from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, December 10th. Zacks Investment Research lowered shares of Bunge from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. ValuEngine lowered shares of Bunge from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Credit Suisse Group reissued an “outperform” rating and issued a $77.00 price target on shares of Bunge in a report on Tuesday, January 15th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Bunge in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.67.
Bunge (NYSE:BG) last posted its earnings results on Thursday, February 21st. The basic materials company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.11). Bunge had a return on equity of 6.79% and a net margin of 0.58%. The company had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $11.44 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that Bunge Ltd will post 2.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.84%. Bunge’s dividend payout ratio (DPR) 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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