Short Interest in Bunge Ltd (NYSE:BG) Declines By 24.8%

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Bunge Ltd (NYSE:BG) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,684,300 shares, a decline of 24.8% from the July 31st total of 3,567,700 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 2.2 days.

BG has been the subject of several analyst reports. Zacks Investment Research cut Bunge from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. TheStreet raised Bunge from a “c+” rating to a “b” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $71.50.

In other news, Director Grain Co Continental purchased 20,000 shares of the stock in a transaction on Thursday, August 29th. The stock was bought at an average price of $52.27 per share, with a total value of $1,045,400.00. Following the transaction, the director now owns 3,931,155 shares in the company, valued at approximately $205,481,471.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.18% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Bunge by 108.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232,382 shares of the basic materials company’s stock worth $12,804,000 after purchasing an additional 120,761 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Bunge by 30.2% during the 2nd quarter. Fiera Capital Corp now owns 57,400 shares of the basic materials company’s stock worth $3,198,000 after purchasing an additional 13,300 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Bunge by 3,416.1% in the second quarter. CENTRAL TRUST Co now owns 6,540 shares of the basic materials company’s stock valued at $370,000 after acquiring an additional 6,354 shares during the last quarter. Maso Capital Partners Ltd lifted its holdings in Bunge by 49.0% in the first quarter. Maso Capital Partners Ltd now owns 134,271 shares of the basic materials company’s stock valued at $7,126,000 after acquiring an additional 44,171 shares during the last quarter. Finally, ARP Americas LP acquired a new position in Bunge in the second quarter valued at approximately $1,794,000. Institutional investors own 79.88% of the company’s stock.

Shares of BG stock traded down $0.67 on Friday, hitting $56.83. The company had a trading volume of 2,088,144 shares, compared to its average volume of 1,454,890. The firm has a market cap of $8.07 billion, a P/E ratio of 20.89 and a beta of 0.88. The company has a 50-day moving average price of $55.27 and a 200-day moving average price of $53.92. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. Bunge has a twelve month low of $47.26 and a twelve month high of $72.35.

Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $1.20. Bunge had a return on equity of 11.39% and a net margin of 1.30%. The firm had revenue of $10.10 billion during the quarter, compared to analyst estimates of $12 billion. During the same quarter in the previous year, the business earned $0.10 EPS. Bunge’s revenue for the quarter was down 16.9% compared to the same quarter last year. Equities research analysts expect that Bunge will post 3.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.52%. Bunge’s dividend payout ratio is presently 73.53%.

Bunge Company Profile

Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.

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