Becker Capital Management Inc. Reduces Position in Bunge Ltd (BG)

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Becker Capital Management Inc. lowered its stake in shares of Bunge Ltd (NYSE:BG) by 1.2% during the third quarter, HoldingsChannel.com reports. The fund owned 435,056 shares of the basic materials company’s stock after selling 5,191 shares during the quarter. Becker Capital Management Inc.’s holdings in Bunge were worth $29,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Bunge by 41.4% during the second quarter. BlackRock Inc. now owns 12,076,742 shares of the basic materials company’s stock worth $841,871,000 after acquiring an additional 3,535,679 shares during the period. Northern Trust Corp increased its position in Bunge by 13.3% during the second quarter. Northern Trust Corp now owns 2,441,166 shares of the basic materials company’s stock worth $170,174,000 after acquiring an additional 285,782 shares during the period. Fairpointe Capital LLC increased its position in Bunge by 2.8% during the second quarter. Fairpointe Capital LLC now owns 1,512,152 shares of the basic materials company’s stock worth $105,413,000 after acquiring an additional 41,333 shares during the period. Renaissance Technologies LLC increased its position in Bunge by 81.4% during the second quarter. Renaissance Technologies LLC now owns 1,429,997 shares of the basic materials company’s stock worth $99,685,000 after acquiring an additional 641,597 shares during the period. Finally, Wells Fargo & Company MN increased its position in Bunge by 67.8% during the second quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock worth $86,718,000 after acquiring an additional 502,598 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bunge stock opened at $63.33 on Wednesday. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 32.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 1.58. Bunge Ltd has a 52-week low of $61.26 and a 52-week high of $83.20.

Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $0.13. The firm had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.95 billion. Bunge had a net margin of 0.59% and a return on equity of 7.84%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Analysts expect that Bunge Ltd will post 4.91 EPS for the current fiscal year.

In other Bunge news, CFO Thomas Boehlert purchased 3,200 shares of the stock in a transaction on Monday, November 5th. The shares were purchased at an average price of $62.68 per share, with a total value of $200,576.00. Following the acquisition, the chief financial officer now directly owns 3,200 shares of the company’s stock, valued at approximately $200,576. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director L Patrick Lupo purchased 3,000 shares of the stock in a transaction on Monday, November 5th. The stock was acquired at an average cost of $62.71 per share, for a total transaction of $188,130.00. Following the acquisition, the director now directly owns 46,024 shares in the company, valued at $2,886,165.04. The disclosure for this purchase can be found here. Insiders own 1.25% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Bunge from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 2nd. BMO Capital Markets lowered their price target on shares of Bunge from $87.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Citigroup lowered their price target on shares of Bunge from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. ValuEngine raised shares of Bunge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group lowered their price target on shares of Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $78.40.

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Bunge Company Profile

Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. 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 grain, such as wheat and corn; and vegetable oils and protein meals.

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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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