OLD Mutual Customised Solutions Proprietary Ltd. Buys 2,400 Shares of Bunge Ltd (BG)

Share on StockTwits

OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Bunge Ltd (NYSE:BG) by 22.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,200 shares of the basic materials company’s stock after purchasing an additional 2,400 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Bunge were worth $920,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT raised its stake in Bunge by 5.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 15,499 shares of the basic materials company’s stock worth $1,080,000 after buying an additional 800 shares during the period. Xact Kapitalforvaltning AB raised its stake in Bunge by 3.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 25,480 shares of the basic materials company’s stock worth $1,884,000 after buying an additional 939 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Bunge by 4.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 25,847 shares of the basic materials company’s stock worth $1,911,000 after buying an additional 984 shares during the period. Stifel Financial Corp raised its stake in Bunge by 25.3% during the 1st quarter. Stifel Financial Corp now owns 5,326 shares of the basic materials company’s stock worth $392,000 after buying an additional 1,075 shares during the period. Finally, CIBC World Markets Inc. raised its stake in Bunge by 21.5% during the 2nd quarter. CIBC World Markets Inc. now owns 6,560 shares of the basic materials company’s stock worth $457,000 after buying an additional 1,160 shares during the period. Institutional investors and hedge funds own 80.53% of the company’s stock.

BG has been the topic of several research analyst reports. Zacks Investment Research raised Bunge from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Friday, August 3rd. JPMorgan Chase & Co. raised Bunge to a “buy” rating and set a $82.00 price objective on the stock in a research note on Monday, July 9th. Citigroup dropped their price objective on Bunge from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. ValuEngine downgraded Bunge from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Finally, Credit Suisse Group dropped their price objective on Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Bunge presently has a consensus rating of “Buy” and an average target price of $81.14.

BG opened at $64.33 on Friday. Bunge Ltd has a 1 year low of $61.28 and a 1 year high of $83.20. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 43.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 1.49.

Bunge (NYSE:BG) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.94). The business had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $12.03 billion. During the same quarter last year, the company earned $0.17 earnings per share. Bunge’s revenue for the quarter was up 4.3% on a year-over-year basis. analysts expect that Bunge Ltd will post 5.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, November 16th. Bunge’s dividend payout ratio is 103.09%.

About Bunge

Bunge Limited operates as an agribusiness and food company worldwide. It operates through 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 grain, such as wheat and corn; and vegetable oils and protein meals.

Further Reading: What are the Different Types of Leveraged Buyouts?

Want to see what other hedge funds are holding BG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bunge Ltd (NYSE:BG).

Institutional Ownership by Quarter for Bunge (NYSE:BG)

Receive News & Ratings for Bunge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bunge and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply