Man Group plc purchased a new position in Bunge Ltd (NYSE:BG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 441,306 shares of the basic materials company’s stock, valued at approximately $24,987,000. Man Group plc owned 0.31% of Bunge at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BG. Pictet Asset Management Ltd. raised its holdings in Bunge by 50.9% during the 2nd quarter. Pictet Asset Management Ltd. now owns 524,371 shares of the basic materials company’s stock valued at $29,213,000 after acquiring an additional 176,923 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Bunge by 108.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232,382 shares of the basic materials company’s stock worth $12,804,000 after acquiring an additional 120,761 shares in the last quarter. Fiera Capital Corp grew its position in Bunge by 30.2% in the second quarter. Fiera Capital Corp now owns 57,400 shares of the basic materials company’s stock worth $3,198,000 after acquiring an additional 13,300 shares in the last quarter. HM Payson & Co. purchased a new position in Bunge in the second quarter worth $128,000. Finally, Janney Montgomery Scott LLC purchased a new position in Bunge in the second quarter worth $587,000. 78.38% of the stock is currently owned by institutional investors.
BG has been the subject of several research reports. Credit Suisse Group reiterated a “buy” rating on shares of Bunge in a research report on Monday, November 4th. Stephens started coverage on shares of Bunge in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $74.00 target price for the company. ValuEngine lowered shares of Bunge from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. TheStreet lowered shares of Bunge from a “b-” rating to a “c-” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research upgraded shares of Bunge from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $70.00.
NYSE BG opened at $53.38 on Monday. The company has a 50-day simple moving average of $55.08 and a two-hundred day simple moving average of $55.29. 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 Ltd has a 12-month low of $47.26 and a 12-month high of $62.92. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 19.63 and a beta of 0.86.
Bunge (NYSE:BG) last posted its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.87. Bunge had a negative net margin of 3.09% and a positive return on equity of 9.31%. The business had revenue of $10.32 billion during the quarter, compared to analyst estimates of $11.14 billion. During the same period in the prior year, the business posted $2.52 earnings per share. The company’s revenue was down 9.5% on a year-over-year basis. Equities analysts expect that Bunge Ltd will post 2.95 earnings per share for the current fiscal year.
In other Bunge news, insider Jerry Matthews Simmons, Jr. sold 1,786 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $54.65, for a total transaction of $97,604.90. Following the completion of the sale, the insider now directly owns 11,323 shares in the company, valued at $618,801.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.18% of the company’s stock.
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.
Featured Article: What does a dividend yield signify to investors?
Want to see what other hedge funds are holding BG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bunge Ltd (NYSE:BG).
Receive News & Ratings for Bunge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bunge and related companies with MarketBeat.com's FREE daily email newsletter.