Gabelli Funds LLC Cuts Stock Position in Bunge Ltd (NYSE:BG)

Gabelli Funds LLC lessened its holdings in Bunge Ltd (NYSE:BG) by 4.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 136,000 shares of the basic materials company’s stock after selling 7,000 shares during the period. Gabelli Funds LLC owned 0.10% of Bunge worth $7,700,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. IFM Investors Pty Ltd increased its stake in Bunge by 83.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 17,011 shares of the basic materials company’s stock worth $963,000 after buying an additional 7,758 shares in the last quarter. ARP Americas LP boosted its holdings in shares of Bunge by 54.7% during the 3rd quarter. ARP Americas LP now owns 49,800 shares of the basic materials company’s stock valued at $2,820,000 after purchasing an additional 17,600 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Bunge by 11.1% during the 3rd quarter. California Public Employees Retirement System now owns 931,687 shares of the basic materials company’s stock valued at $52,752,000 after purchasing an additional 92,780 shares during the last quarter. Usca Ria LLC bought a new position in shares of Bunge during the 3rd quarter valued at about $45,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Bunge by 15.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 74,666 shares of the basic materials company’s stock valued at $4,228,000 after purchasing an additional 9,806 shares during the last quarter. Institutional investors and hedge funds own 80.26% of the company’s stock.

Shares of NYSE:BG traded down $0.12 during trading on Friday, reaching $55.33. The company’s stock had a trading volume of 4,651 shares, compared to its average volume of 971,823. 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 Ltd has a 12 month low of $47.26 and a 12 month high of $63.76. The firm’s 50 day simple moving average is $55.55 and its two-hundred day simple moving average is $54.89. The stock has a market capitalization of $7.87 billion, a PE ratio of 20.31 and a beta of 0.87.

Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter last year, the firm earned $2.52 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. Research analysts anticipate that Bunge Ltd will post 2.95 EPS for the current fiscal year.

Several research analysts have commented on BG shares. Credit Suisse Group reissued a “buy” rating on shares of Bunge in a report on Monday. ValuEngine downgraded shares of Bunge from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Stephens started coverage on shares of Bunge in a report on Tuesday, October 8th. They set an “overweight” rating and a $74.00 price objective for the company. Zacks Investment Research raised shares of Bunge from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet downgraded shares of Bunge from a “b-” rating to a “c-” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $70.00.

In other Bunge news, Director Grain Co Continental purchased 20,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $52.27 per share, with a total value of $1,045,400.00. Following the acquisition, the director now owns 3,931,155 shares in the company, valued at $205,481,471.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.18% of the stock is currently owned by company insiders.

Bunge 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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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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