Marathon Asset Management LLP lowered its position in Bunge Ltd (NYSE:BG) by 2.3% during the third quarter, Holdings Channel reports. The fund owned 1,195,695 shares of the basic materials company’s stock after selling 28,745 shares during the quarter. Marathon Asset Management LLP’s holdings in Bunge were worth $82,156,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of BG. Vident Investment Advisory LLC lifted its stake in shares of Bunge by 9.9% during the second quarter. Vident Investment Advisory LLC now owns 21,731 shares of the basic materials company’s stock worth $1,515,000 after purchasing an additional 1,954 shares in the last quarter. Robecosam AG lifted its stake in shares of Bunge by 18.7% during the second quarter. Robecosam AG now owns 20,073 shares of the basic materials company’s stock worth $1,397,000 after purchasing an additional 3,168 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Bunge during the second quarter worth about $209,000. Stevens Capital Management LP acquired a new position in shares of Bunge during the second quarter worth about $1,338,000. Finally, Arrowgrass Capital Partners US LP purchased a new stake in shares of Bunge during the second quarter worth about $10,606,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.
Shares of Bunge stock opened at $62.50 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.58 and a quick ratio of 0.71. The stock has a market capitalization of $8.79 billion, a P/E ratio of 32.22 and a beta of 1.12. Bunge Ltd has a fifty-two week low of $61.26 and a fifty-two week high of $83.20.
Bunge (NYSE:BG) last announced its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $0.13. The firm had revenue of $11.41 billion during the quarter, compared to analyst estimates of $11.95 billion. Bunge had a return on equity of 7.84% and a net margin of 0.59%. Bunge’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. Equities research analysts anticipate that Bunge Ltd will post 4.91 earnings per share for the current fiscal year.
BG has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised Bunge to a “buy” rating and set a $82.00 target price on the stock in a research report on Monday, July 9th. Zacks Investment Research lowered Bunge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine lowered Bunge from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Credit Suisse Group dropped their target price on Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 2nd. Finally, Citigroup dropped their target price on Bunge from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $78.40.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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