Verition Fund Management LLC trimmed its stake in shares of Bunge Ltd (NYSE:BG) by 91.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,011 shares of the basic materials company’s stock after selling 111,992 shares during the period. Verition Fund Management LLC’s holdings in Bunge were worth $698,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Bunge by 41.4% during the 2nd quarter. BlackRock Inc. now owns 12,076,742 shares of the basic materials company’s stock valued at $841,871,000 after acquiring an additional 3,535,679 shares during the period. Fairpointe Capital LLC lifted its position in shares of Bunge by 2.8% during the 2nd quarter. Fairpointe Capital LLC now owns 1,512,152 shares of the basic materials company’s stock valued at $105,413,000 after acquiring an additional 41,333 shares during the period. Renaissance Technologies LLC lifted its position in shares of Bunge by 81.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,429,997 shares of the basic materials company’s stock valued at $99,685,000 after acquiring an additional 641,597 shares during the period. Wells Fargo & Company MN lifted its position in shares of Bunge by 67.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock valued at $86,718,000 after acquiring an additional 502,598 shares during the period. Finally, Marathon Asset Management LLP lifted its position in shares of Bunge by 6.8% during the 2nd quarter. Marathon Asset Management LLP now owns 1,224,440 shares of the basic materials company’s stock valued at $85,356,000 after acquiring an additional 77,556 shares during the period. Institutional investors own 80.39% of the company’s stock.

Shares of Bunge stock opened at $66.63 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 0.71. Bunge Ltd has a 1 year low of $61.28 and a 1 year high of $83.20. The company has a market cap of $9.32 billion, a P/E ratio of 45.36 and a beta of 1.12.

Bunge (NYSE:BG) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.94). The company had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $12.03 billion. During the same period in the prior year, the company earned $0.17 EPS. Bunge’s revenue was up 4.3% on a year-over-year basis. analysts forecast that Bunge Ltd will post 5.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.00%. Bunge’s dividend payout ratio is currently 103.09%.

A number of equities research analysts have recently issued reports on BG shares. JPMorgan Chase & Co. upgraded shares of Bunge to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, July 9th. Zacks Investment Research downgraded Bunge from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Credit Suisse Group cut their price objective on Bunge from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, August 2nd. ValuEngine upgraded Bunge from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. Finally, Citigroup cut their price objective on Bunge from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.14.

Bunge Company Profile

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.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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