Meyer Handelman Co. raised its position in Bunge Ltd (NYSE:BG) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,200 shares of the basic materials company’s stock after buying an additional 800 shares during the period. Meyer Handelman Co.’s holdings in Bunge were worth $906,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Bunge by 41.4% in the 2nd quarter. BlackRock Inc. now owns 12,076,742 shares of the basic materials company’s stock worth $841,871,000 after buying an additional 3,535,679 shares during the last quarter. Northern Trust Corp boosted its holdings in Bunge by 13.3% in the 2nd quarter. Northern Trust Corp now owns 2,441,166 shares of the basic materials company’s stock worth $170,174,000 after buying an additional 285,782 shares during the last quarter. Fairpointe Capital LLC boosted its holdings in Bunge by 2.8% in the 2nd quarter. Fairpointe Capital LLC now owns 1,512,152 shares of the basic materials company’s stock worth $105,413,000 after buying an additional 41,333 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Bunge by 81.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,429,997 shares of the basic materials company’s stock worth $99,685,000 after buying an additional 641,597 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Bunge by 67.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock worth $86,718,000 after buying an additional 502,598 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research cut Bunge from a “strong-buy” rating to a “hold” rating in a report on Friday, November 2nd. JPMorgan Chase & Co. cut Bunge from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $75.00 in a report on Thursday, August 2nd. BMO Capital Markets decreased their target price on shares of Bunge from $87.00 to $83.00 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. Citigroup decreased their target price on shares of Bunge from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Finally, ValuEngine raised shares of Bunge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $78.40.
BG opened at $63.27 on Friday. 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 1-year low of $61.26 and a 1-year high of $83.20. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 19.43 and a beta of 1.12.
Bunge (NYSE:BG) last released its earnings results on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.13. Bunge had a net margin of 0.59% and a return on equity of 7.84%. The business had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period last year, the company posted $0.75 EPS. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Bunge Ltd will post 4.91 EPS for the current fiscal year.
In other news, Director Grain Co Continental purchased 155,000 shares of Bunge stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average price of $63.53 per share, with a total value of $9,847,150.00. Following the transaction, the director now owns 3,319,038 shares in the company, valued at $210,858,484.14. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director L Patrick Lupo purchased 3,000 shares of Bunge stock in a transaction dated Monday, November 5th. The shares were purchased at an average cost of $62.71 per share, for a total transaction of $188,130.00. Following the transaction, the director now owns 46,024 shares in the company, valued at approximately $2,886,165.04. The disclosure for this purchase can be found here. Insiders acquired a total of 163,200 shares of company stock worth $10,361,881 over the last three months. Corporate insiders own 1.25% of the company’s stock.
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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