Abbot Financial Management Inc. trimmed its stake in shares of Bunge Limited (NYSE:BG – Free Report) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,332 shares of the basic materials company’s stock after selling 1,198 shares during the period. Bunge comprises 1.4% of Abbot Financial Management Inc.’s holdings, making the stock its 23rd largest position. Abbot Financial Management Inc.’s holdings in Bunge were worth $2,038,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the business. Sugarloaf Wealth Management LLC purchased a new position in Bunge during the first quarter worth approximately $31,000. Pinnacle Holdings LLC purchased a new position in Bunge in the first quarter valued at $36,000. Spire Wealth Management boosted its holdings in Bunge by 242.1% in the first quarter. Spire Wealth Management now owns 431 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 305 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Bunge by 236.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 639 shares of the basic materials company’s stock worth $64,000 after buying an additional 449 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Bunge during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Insiders Place Their Bets
In related news, insider Christos Dimopoulos sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $111.89, for a total value of $2,237,800.00. Following the sale, the insider now owns 73,291 shares in the company, valued at approximately $8,200,529.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.
Bunge Stock Performance
Bunge (NYSE:BG – Get Free Report) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $1.03. Bunge had a return on equity of 20.12% and a net margin of 3.09%. The company had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same quarter in the previous year, the firm posted $2.97 EPS. The firm’s quarterly revenue was down 16.1% on a year-over-year basis. On average, analysts expect that Bunge Limited will post 12.22 earnings per share for the current year.
Bunge Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.6625 per share. This represents a $2.65 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, November 16th. Bunge’s payout ratio is 20.48%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on BG shares. BMO Capital Markets lifted their price target on Bunge from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. StockNews.com started coverage on Bunge in a report on Thursday, August 17th. They issued a “hold” rating for the company. Roth Mkm started coverage on Bunge in a report on Thursday, June 22nd. They issued a “buy” rating and a $138.00 target price for the company. 51job reissued an “initiates” rating on shares of Bunge in a report on Thursday, June 22nd. Finally, Robert W. Baird reduced their target price on Bunge from $115.00 to $110.00 in a report on Wednesday, June 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Bunge currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.29.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.
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