Insider Selling: Bunge Limited (NYSE:BG) Insider Sells 44,666 Shares of Stock
Posted On May 5, 2022
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Bunge Limited (NYSE:BG – Get Rating) insider Jerry Matthews Simmons, Jr. sold 44,666 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $114.98, for a total transaction of $5,135,696.68. Following the transaction, the insider now directly owns 33,654 shares of the company’s stock, valued at $3,869,536.92. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of NYSE BG opened at $118.68 on Thursday. The firm has a market cap of $18.01 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The firm’s 50 day moving average price is $113.24 and its 200 day moving average price is $100.40. Bunge Limited has a 1 year low of $71.73 and a 1 year high of $128.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.71 and a current ratio of 1.51.
Bunge (NYSE:BG – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The basic materials company reported $4.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.94 by $1.32. The company had revenue of $15.88 billion for the quarter, compared to analyst estimates of $14.63 billion. Bunge had a net margin of 3.07% and a return on equity of 28.87%. Bunge’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the business earned $3.13 EPS. As a group, equities analysts predict that Bunge Limited will post 12.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.77%. Bunge’s dividend payout ratio (DPR) is presently 16.60%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Bunge in the 4th quarter valued at $52,225,000. Cohen & Steers Inc. raised its stake in shares of Bunge by 7.4% in the 3rd quarter. Cohen & Steers Inc. now owns 86,707 shares of the basic materials company’s stock valued at $7,051,000 after acquiring an additional 5,959 shares during the period. Kehrs Ridge Capital LLC raised its stake in shares of Bunge by 87.5% in the 3rd quarter. Kehrs Ridge Capital LLC now owns 150,000 shares of the basic materials company’s stock valued at $12,198,000 after acquiring an additional 70,000 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Bunge by 4.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 7,238 shares of the basic materials company’s stock valued at $676,000 after acquiring an additional 300 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Bunge by 276.1% in the 4th quarter. D.A. Davidson & CO. now owns 25,762 shares of the basic materials company’s stock valued at $2,405,000 after acquiring an additional 18,912 shares during the period. Institutional investors own 86.11% of the company’s stock.
A number of research analysts have recently weighed in on BG shares. Credit Suisse Group raised their price objective on shares of Bunge from $120.00 to $140.00 in a research note on Thursday, April 28th. StockNews.com cut shares of Bunge from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Morgan Stanley dropped their price objective on shares of Bunge from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Thursday, January 13th. JPMorgan Chase & Co. initiated coverage on shares of Bunge in a research note on Wednesday, January 12th. They set a “hold” rating and a $94.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Wednesday, April 20th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Bunge has an average rating of “Buy” and an average target price of $115.56.
About Bunge (Get Rating)
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 primarily wheat and corn; and processes oilseeds into vegetable oils and protein meals.
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