Managed Asset Portfolios LLC increased its holdings in Bunge Ltd (NYSE:BG) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 504,457 shares of the basic materials company’s stock after acquiring an additional 29,640 shares during the period. Bunge makes up about 6.3% of Managed Asset Portfolios LLC’s holdings, making the stock its 3rd largest holding. Managed Asset Portfolios LLC owned approximately 0.36% of Bunge worth $28,563,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BG. Cornerstone Advisors Inc. boosted its position in shares of Bunge by 65.2% during the second 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 period. Usca Ria LLC purchased a new position in shares of Bunge during the third quarter worth $45,000. Advisory Services Network LLC boosted its position in shares of Bunge by 756.0% during the second quarter. Advisory Services Network LLC now owns 1,070 shares of the basic materials company’s stock worth $60,000 after buying an additional 945 shares during the period. Trust Co. of Vermont boosted its position in shares of Bunge by 333.3% during the second quarter. Trust Co. of Vermont now owns 1,300 shares of the basic materials company’s stock worth $72,000 after buying an additional 1,000 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Bunge by 8,370.6% during the second quarter. Rockefeller Capital Management L.P. now owns 1,440 shares of the basic materials company’s stock worth $80,000 after buying an additional 1,423 shares during the period. Institutional investors own 80.26% of the company’s stock.
In related news, Director Grain Co Continental bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $52.27 per share, for a total transaction of $1,045,400.00. Following the completion of the acquisition, the director now 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.18% of the company’s stock.
NYSE:BG traded up $0.44 during midday trading on Friday, reaching $55.89. The company had a trading volume of 524,037 shares, compared to its average volume of 1,352,677. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 20.55 and a beta of 0.87. The stock’s fifty day simple moving average is $55.55 and its 200-day simple moving average is $54.89. Bunge Ltd has a 12-month low of $47.26 and a 12-month high of $63.76. The company has a current ratio of 1.47, a quick ratio of 0.73 and a debt-to-equity ratio of 1.29.
Bunge (NYSE:BG) last released its earnings results on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.87. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $11.14 billion. Bunge had a positive return on equity of 9.31% and a negative net margin of 3.09%. Bunge’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the business posted $2.52 earnings per share. As a group, sell-side analysts expect that Bunge Ltd will post 2.95 EPS for the current year.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Bunge from a “sell” rating to a “hold” rating in a research report on Wednesday. Stephens assumed coverage on Bunge in a research report on Tuesday, October 8th. They set an “overweight” rating and a $74.00 price target for the company. TheStreet lowered Bunge from a “b-” rating to a “c-” rating in a research report on Wednesday, October 30th. Credit Suisse Group restated a “buy” rating on shares of Bunge in a research report on Monday. Finally, ValuEngine lowered Bunge from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently 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.
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