AQR Capital Management LLC Has $160.63 Million Position in Bunge Limited (BG)

AQR Capital Management LLC boosted its stake in shares of Bunge Limited (NYSE:BG) by 101.8% during the first quarter, Holdings Channel reports. The institutional investor owned 2,026,586 shares of the basic materials company’s stock after buying an additional 1,022,468 shares during the period. AQR Capital Management LLC owned 1.44% of Bunge Limited worth $160,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BG. BlackRock Inc. raised its stake in Bunge Limited by 1,532.8% in the first quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock valued at $633,427,000 after buying an additional 7,502,326 shares in the last quarter. Norges Bank purchased a new stake in Bunge Limited during the fourth quarter valued at approximately $126,122,000. Vanguard Group Inc. raised its stake in Bunge Limited by 9.0% in the first quarter. Vanguard Group Inc. now owns 13,226,070 shares of the basic materials company’s stock valued at $1,048,298,000 after buying an additional 1,095,696 shares in the last quarter. American Century Companies Inc. purchased a new stake in Bunge Limited during the first quarter valued at approximately $55,314,000. Finally, Morgan Stanley raised its stake in Bunge Limited by 122.8% in the first quarter. Morgan Stanley now owns 808,986 shares of the basic materials company’s stock valued at $64,121,000 after buying an additional 445,870 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.

Institutional Ownership by Quarter for Bunge Limited (NYSE:BG)

Shares of Bunge Limited (BG) traded down 0.52% during midday trading on Friday, hitting $76.94. 1,713,514 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $75.63 and its 200 day moving average price is $74.76. Bunge Limited has a one year low of $56.69 and a one year high of $83.75. The firm has a market cap of $10.80 billion, a PE ratio of 20.42 and a beta of 1.01.

Bunge Limited (NYSE:BG) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.33. Bunge Limited had a net margin of 1.23% and a return on equity of 8.03%. The business had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities research analysts forecast that Bunge Limited will post $5.23 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be paid a $0.46 dividend. This is a positive change from Bunge Limited’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, August 18th. This represents a $1.84 annualized dividend and a dividend yield of 2.39%. Bunge Limited’s dividend payout ratio (DPR) is presently 45.41%.

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Several analysts have recently issued reports on the stock. Credit Suisse Group lifted their target price on shares of Bunge Limited from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, June 9th. BidaskClub downgraded shares of Bunge Limited from a “hold” rating to a “sell” rating in a research note on Wednesday. BMO Capital Markets set a $87.00 price target on shares of Bunge Limited and gave the stock a “buy” rating in a research note on Monday. J P Morgan Chase & Co downgraded shares of Bunge Limited from a “neutral” rating to an “underweight” rating and set a $70.00 price target on the stock. in a research note on Thursday, April 6th. Finally, Stephens downgraded shares of Bunge Limited from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Bunge Limited presently has a consensus rating of “Hold” and a consensus target price of $79.71.

In related news, insider David Kabbes sold 593 shares of the business’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $79.95, for a total transaction of $47,410.35. Following the sale, the insider now owns 5,507 shares in the company, valued at approximately $440,284.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Soren Schroder sold 12,532 shares of the business’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $80.01, for a total value of $1,002,685.32. Following the sale, the chief executive officer now owns 69,140 shares in the company, valued at approximately $5,531,891.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

About Bunge Limited

Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.

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