Insider Buying: Bunge Ltd (BG) CEO Purchases 38,588 Shares of Stock
Bunge Ltd (NYSE:BG) CEO Gregory A. Heckman bought 38,588 shares of Bunge stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average cost of $51.93 per share, for a total transaction of $2,003,874.84. Following the completion of the transaction, the chief executive officer now owns 55,054 shares of the company’s stock, valued at approximately $2,858,954.22. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of NYSE BG traded down $0.67 during trading on Wednesday, reaching $51.31. 32,398 shares of the stock were exchanged, compared to its average volume of 1,691,292. Bunge Ltd has a twelve month low of $47.26 and a twelve month high of $73.13. The company has a current ratio of 1.40, a quick ratio of 0.66 and a debt-to-equity ratio of 0.76. The stock has a market cap of $7.39 billion, a P/E ratio of 18.90 and a beta of 0.91.
Bunge (NYSE:BG) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.33. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $10.67 billion. Bunge had a net margin of 0.74% and a return on equity of 7.81%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, research analysts expect that Bunge Ltd will post 2.78 EPS for the current fiscal year.
A number of research analysts have recently commented on BG shares. ValuEngine cut shares of Bunge from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. Zacks Investment Research raised shares of Bunge from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 25th. Credit Suisse Group set a $70.00 target price on shares of Bunge and gave the stock an “outperform” rating in a research report on Wednesday, January 23rd. JPMorgan Chase & Co. started coverage on shares of Bunge in a research report on Thursday, March 28th. They set a “neutral” rating and a $67.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Bunge from $84.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $73.33.
A number of institutional investors and hedge funds have recently bought and sold shares of BG. Oregon Public Employees Retirement Fund raised its holdings in Bunge by 7,122.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,805,409 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 3,752,723 shares in the last quarter. Morgan Stanley raised its holdings in Bunge by 618.9% in the third quarter. Morgan Stanley now owns 3,620,854 shares of the basic materials company’s stock valued at $248,789,000 after acquiring an additional 3,117,218 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Bunge by 2,903.8% in the first quarter. Renaissance Technologies LLC now owns 1,486,900 shares of the basic materials company’s stock valued at $78,910,000 after acquiring an additional 1,437,400 shares in the last quarter. Norges Bank acquired a new stake in Bunge in the fourth quarter valued at $69,827,000. Finally, FIL Ltd raised its holdings in Bunge by 223.5% in the first quarter. FIL Ltd now owns 1,766,886 shares of the basic materials company’s stock valued at $93,768,000 after acquiring an additional 1,220,696 shares in the last quarter. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
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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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