Magnetar Financial LLC Buys 10,020 Shares of Bunge Limited (BG)
Magnetar Financial LLC increased its stake in shares of Bunge Limited (NYSE:BG) by 122.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,213 shares of the basic materials company’s stock after buying an additional 10,020 shares during the quarter. Magnetar Financial LLC’s holdings in Bunge were worth $1,265,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Planning grew its stake in shares of Bunge by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 822 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Bunge in the second quarter worth $200,000. Rothschild Asset Management Inc. grew its stake in shares of Bunge by 1.3% in the second quarter. Rothschild Asset Management Inc. now owns 6,170 shares of the basic materials company’s stock worth $460,000 after purchasing an additional 81 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Bunge by 9.5% in the second quarter. Daiwa Securities Group Inc. now owns 4,050 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 350 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Bunge by 43.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 13,133 shares of the basic materials company’s stock worth $980,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 79.86% of the company’s stock.
Shares of Bunge Limited (NYSE:BG) opened at $69.79 on Friday. 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 firm has a market capitalization of $9,731.53, a price-to-earnings ratio of 23.30, a PEG ratio of 1.94 and a beta of 1.05. Bunge Limited has a twelve month low of $63.87 and a twelve month high of $83.75.
Bunge (NYSE:BG) last announced its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.75 earnings per share 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 analyst estimates of $11.87 billion. Bunge had a net margin of 1.06% and a return on equity of 6.68%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. analysts forecast that Bunge Limited will post 2.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.64%. Bunge’s dividend payout ratio (DPR) is 57.68%.
Several research analysts have recently issued reports on BG shares. Piper Jaffray Companies reissued a “buy” rating and issued a $86.00 price target on shares of Bunge in a research note on Tuesday, September 5th. TheStreet cut Bunge from a “b-” rating to a “c+” rating in a research note on Tuesday, October 10th. Vertical Group cut Bunge from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Robert W. Baird started coverage on Bunge in a research note on Monday, September 11th. They issued a “neutral” rating and a $77.00 price target for the company. Finally, Zacks Investment Research cut Bunge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price 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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