Convergence Investment Partners LLC Buys 3,395 Shares of Bunge Limited (BG)
Convergence Investment Partners LLC boosted its stake in shares of Bunge Limited (NYSE:BG) by 6.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,174 shares of the basic materials company’s stock after buying an additional 3,395 shares during the period. Convergence Investment Partners LLC’s holdings in Bunge were worth $3,693,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Bunge by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock valued at $1,077,980,000 after purchasing an additional 1,224,073 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bunge by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,201,141 shares of the basic materials company’s stock valued at $152,892,000 after purchasing an additional 42,428 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in shares of Bunge in the 2nd quarter valued at $136,703,000. TIAA CREF Investment Management LLC lifted its stake in shares of Bunge by 15.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,092,286 shares of the basic materials company’s stock valued at $81,485,000 after purchasing an additional 146,806 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Bunge by 5.5% in the 2nd quarter. Teachers Advisors LLC now owns 1,085,769 shares of the basic materials company’s stock valued at $80,998,000 after purchasing an additional 56,527 shares during the last quarter. 79.86% of the stock is currently owned by institutional investors.
Shares of Bunge Limited (BG) opened at $67.14 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.60 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $9,440.47, a price-to-earnings ratio of 22.61, a P/E/G ratio of 1.89 and a beta of 1.05. Bunge Limited has a 1-year low of $63.87 and a 1-year high of $83.75.
Bunge (NYSE:BG) last posted its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.04). The firm had revenue of $11.42 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Bunge had a net margin of 1.06% and a return on equity of 6.68%. Bunge’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. research analysts forecast that Bunge Limited will post 2.97 earnings per share for the current fiscal year.
Several equities analysts have recently commented on BG shares. Zacks Investment Research lowered Bunge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 price target on shares of Bunge in a research note on Tuesday, September 5th. Credit Suisse Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Bunge in a report on Friday, September 15th. Vertical Group downgraded Bunge from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $77.00 price objective on shares of Bunge in a report on Friday, October 13th. 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’s stock. Bunge currently has an average rating of “Hold” and a consensus price target of $81.86.
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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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