Industrial Alliance Investment Management Inc. Trims Stock Position in Bunge Limited (NYSE:BG)

Industrial Alliance Investment Management Inc. lessened its holdings in Bunge Limited (NYSE:BG – Get Rating) by 62.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,190 shares of the basic materials company’s stock after selling 55,390 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Bunge were worth $2,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BG. TCI Wealth Advisors Inc. raised its position in shares of Bunge by 96.9% in the third quarter. TCI Wealth Advisors Inc. now owns 382 shares of the basic materials company’s stock valued at $32,000 after buying an additional 188 shares during the last quarter. Pinnacle Holdings LLC acquired a new position in shares of Bunge in the first quarter valued at approximately $36,000. Ronald Blue Trust Inc. acquired a new position in shares of Bunge in the second quarter valued at approximately $55,000. Eagle Bay Advisors LLC acquired a new position in shares of Bunge in the second quarter valued at approximately $60,000. Finally, CWM LLC increased its position in Bunge by 118.3% during the third quarter. CWM LLC now owns 1,002 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Analysts Set New Price Targets

BG has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Bunge in a research report on Tuesday, December 13th. They set a “buy” rating and a $133.00 price target for the company. Robert W. Baird lowered shares of Bunge from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $127.00 to $115.00 in a research report on Thursday, February 9th. Finally, StockNews.com initiated coverage on shares of Bunge in a research report on Thursday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.13.

Bunge Price Performance

Bunge stock opened at $96.72 on Friday. Bunge Limited has a 52-week low of $80.41 and a 52-week high of $128.40. The firm has a fifty day moving average of $97.77 and a 200-day moving average of $96.00. The firm has a market capitalization of $14.50 billion, a P/E ratio of 9.24 and a beta of 0.66. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 0.33.

Bunge (NYSE:BG – Get Rating) last announced its earnings results on Wednesday, February 8th. The basic materials company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.05. The business had revenue of $16.66 billion during the quarter, compared to the consensus estimate of $18.20 billion. Bunge had a net margin of 2.39% and a return on equity of 22.89%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 earnings per share. As a group, analysts predict that Bunge Limited will post 11.83 EPS for the current year.

Bunge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $2.50 annualized dividend and a dividend yield of 2.58%. Bunge’s dividend payout ratio (DPR) is presently 23.76%.

Bunge Profile

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Bunge Ltd. operates as a holding company. engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment is involved in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products.