Parkside Investments LLC has decreased its stake in Bunge Limited (NYSE:BG) by 3.1% during the second quarter, according to a recent disclosure filed with the SEC. The investment firm now owns 68,732 shares of Bunge’s stock, after selling 2,193 shares during the quarter. The value of Parkside Investments’ holdings in Bunge at the end of the quarter was $6,485,000.
Other institutional investors and hedge funds have also adjusted their positions in BG. Sugarloaf Wealth Management LLC acquired a new stake in Bunge in the first quarter valued at approximately $31,000. Pinnacle Holdings LLC acquired a new stake in Bunge during the first quarter worth about $36,000. Spire Wealth Management raised its position in Bunge by 242.1% during the first quarter. Spire Wealth Management now owns 431 shares of Bunge’s stock worth $41,000. First Manhattan CO. LLC acquired a new stake in Bunge during the first quarter worth about $48,000. Jefferies Financial Group Inc. also purchased a new position in Bunge during the fourth quarter worth approximately $64,000. Overall, institutional investors and hedge funds own 84.92% of Bunge’s stock.
In related news, insider Christos Dimopoulos sold 20,000 shares of Bunge’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $111.89, totaling $2,237,800.00. After the sale, Dimopoulos now owns 73,291 shares in the company, valued at approximately $8,200,529.99. This transaction was disclosed in a filing with the Securities & Exchange Commission.
Several Wall Street analysts have also commented on Bunge’s stock. UBS Group raised the price target on Bunge from $133.00 to $141.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Roth Mkm initiated coverage on Bunge, giving the stock a “buy” rating and a $138.00 target price. Morgan Stanley increased their target price from $105.00 to $114.00 and gave the company an “equal weight” rating.
Bunge Limited has a 12-month low of $80.41 and a 12-month high of $116.59. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 8.91, and a beta of 0.67. Bunge last reported its quarterly earnings results on Wednesday, August 2nd.
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. The company also processes oilseeds into vegetable oils and protein meals.
Sources:
1. SEC Filing: https://www.sec.gov/edgar/searchedgar/companysearch.html
2. MarketBeat: https://www.marketbeat.com/