Pillar Pacific Capital Management LLC lowered its holdings in Bunge Ltd (NYSE:BG) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,350 shares of the basic materials company’s stock after selling 400 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Bunge were worth $303,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of BG. Jolley Asset Management LLC boosted its position in Bunge by 2.2% during the 3rd quarter. Jolley Asset Management LLC now owns 9,285 shares of the basic materials company’s stock worth $526,000 after buying an additional 200 shares during the period. Clarus Wealth Advisors lifted its holdings in Bunge by 13.5% during the 2nd quarter. Clarus Wealth Advisors now owns 1,886 shares of the basic materials company’s stock worth $105,000 after buying an additional 225 shares during the last quarter. BB&T Securities LLC lifted its holdings in Bunge by 1.7% during the 3rd quarter. BB&T Securities LLC now owns 13,355 shares of the basic materials company’s stock worth $746,000 after buying an additional 228 shares during the last quarter. M&T Bank Corp lifted its holdings in Bunge by 2.8% during the 2nd quarter. M&T Bank Corp now owns 8,407 shares of the basic materials company’s stock worth $469,000 after buying an additional 229 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its holdings in Bunge by 65.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 593 shares of the basic materials company’s stock worth $33,000 after buying an additional 234 shares during the last quarter. 80.26% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Grain Co Continental bought 20,000 shares of Bunge stock in a transaction dated Thursday, August 29th. The stock was purchased at an average price of $52.27 per share, for a total transaction of $1,045,400.00. Following the purchase, the director now directly owns 3,931,155 shares in the company, valued at approximately $205,481,471.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.18% of the company’s stock.
NYSE BG traded down $0.15 during trading hours on Friday, hitting $55.30. The company’s stock had a trading volume of 9,803 shares, compared to its average volume of 971,823. The stock has a fifty day moving average of $55.55 and a 200 day moving average of $54.89. Bunge Ltd has a twelve month low of $47.26 and a twelve month high of $63.76. The firm has a market capitalization of $7.87 billion, a P/E ratio of 20.33 and a beta of 0.87. The company has a quick ratio of 0.73, a current ratio of 1.47 and a debt-to-equity ratio of 1.29.
Bunge (NYSE:BG) last issued its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.87. The firm had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $11.14 billion. Bunge had a negative net margin of 3.09% and a positive return on equity of 9.31%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.52 EPS. On average, analysts predict that Bunge Ltd will post 2.95 earnings per share for the current year.
Several analysts have commented on the company. TheStreet downgraded Bunge from a “b-” rating to a “c-” rating in a research note on Wednesday, October 30th. Stephens began coverage on Bunge in a report on Tuesday, October 8th. They set an “overweight” rating and a $74.00 price target on the stock. Zacks Investment Research raised Bunge from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group reaffirmed a “buy” rating on shares of Bunge in a report on Monday. Finally, ValuEngine cut Bunge from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.00.
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.
Further Reading: Average Daily Trade Volume – ADTV
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