Swiss National Bank Decreases Stock Holdings in Bunge Ltd (NYSE:BG)
Swiss National Bank reduced its position in shares of Bunge Ltd (NYSE:BG) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 559,235 shares of the basic materials company’s stock after selling 13,900 shares during the period. Swiss National Bank owned about 0.40% of Bunge worth $31,155,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Bunge by 3.0% in the second quarter. Comerica Bank now owns 8,709 shares of the basic materials company’s stock valued at $485,000 after buying an additional 251 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Bunge in the second quarter valued at about $1,100,000. Stephens Inc. AR raised its holdings in shares of Bunge by 103.0% in the second quarter. Stephens Inc. AR now owns 19,975 shares of the basic materials company’s stock valued at $1,113,000 after buying an additional 10,137 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Bunge by 52.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 53,271 shares of the basic materials company’s stock valued at $2,968,000 after buying an additional 18,318 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Bunge by 756.0% in the second quarter. Advisory Services Network LLC now owns 1,070 shares of the basic materials company’s stock valued at $60,000 after buying an additional 945 shares during the last quarter. 81.74% of the stock is owned by institutional investors and hedge funds.
Shares of Bunge stock opened at $54.99 on Thursday. Bunge Ltd has a 52-week low of $47.26 and a 52-week high of $72.35. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. The company’s 50-day simple moving average is $56.22 and its 200-day simple moving average is $53.81. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 20.22 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.64%. Bunge’s dividend payout ratio (DPR) is 73.53%.
In other news, Director Grain Co Continental purchased 160,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $51.00 per share, for a total transaction of $8,160,000.00. Following the completion of the purchase, the director now directly owns 3,676,155 shares in the company, valued at approximately $187,483,905. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.18% of the company’s stock.
BG has been the subject of a number of research reports. ValuEngine cut shares of Bunge from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. TheStreet raised shares of Bunge from a “c+” rating to a “b” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research cut shares of Bunge from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $71.50.
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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