Bunge Target of Unusually High Options Trading (BG)
Bunge Limited (NYSE:BG) saw some unusual options trading on Monday. Stock investors acquired 2,159 put options on the stock. This represents an increase of 660% compared to the typical volume of 284 put options.
Several brokerages have weighed in on BG. Zacks Investment Research downgraded Bunge from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th. BMO Capital Markets reiterated a “buy” rating and issued a $87.00 price target on shares of Bunge in a report on Monday, November 6th. TheStreet downgraded Bunge from a “b-” rating to a “c+” rating in a report on Tuesday, October 10th. Citigroup downgraded Bunge from a “buy” rating to a “neutral” rating and set a $75.00 price target for the company. in a report on Thursday, September 28th. Finally, Piper Jaffray Companies set a $86.00 price target on Bunge and gave the company a “buy” rating in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Bunge currently has a consensus rating of “Hold” and an average target price of $81.86.
Hedge funds have recently added to or reduced their stakes in the company. Shell Asset Management Co. increased its holdings in shares of Bunge by 155.1% during the 3rd quarter. Shell Asset Management Co. now owns 21,083 shares of the basic materials company’s stock worth $1,776,000 after buying an additional 12,818 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Bunge by 52.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 810,842 shares of the basic materials company’s stock valued at $60,489,000 after purchasing an additional 279,307 shares in the last quarter. WINTON GROUP Ltd increased its holdings in Bunge by 48.3% in the 3rd quarter. WINTON GROUP Ltd now owns 11,988 shares of the basic materials company’s stock valued at $833,000 after purchasing an additional 3,907 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Bunge by 19.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 134,844 shares of the basic materials company’s stock valued at $10,058,000 after purchasing an additional 22,132 shares in the last quarter. Finally, Aviva PLC increased its holdings in Bunge by 0.7% in the 2nd quarter. Aviva PLC now owns 87,275 shares of the basic materials company’s stock valued at $6,512,000 after purchasing an additional 610 shares in the last quarter. Institutional investors and hedge funds own 79.86% of the company’s stock.
Bunge (NYSE:BG) last released its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.04). The firm had revenue of $11.42 billion for the quarter, compared to analyst estimates of $11.87 billion. Bunge had a return on equity of 6.68% and a net margin of 1.06%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. research analysts predict that Bunge will post 2.97 earnings per share for the current year.
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Bunge Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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