Bunge Ltd (NYSE:BG) Short Interest Update

Bunge Ltd (NYSE:BG) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totalling 3,683,900 shares, a decrease of 13.9% from the May 30th total of 4,276,300 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is presently 2.6 days.

Several equities analysts have recently weighed in on BG shares. JPMorgan Chase & Co. started coverage on shares of Bunge in a research note on Thursday, March 28th. They set a “neutral” rating and a $67.00 price target for the company. Zacks Investment Research raised shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Bunge presently has a consensus rating of “Hold” and an average price target of $73.33.

In other Bunge news, Director Grain Co Continental bought 160,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $51.00 per share, with a total value of $8,160,000.00. Following the purchase, the director now owns 3,676,155 shares in the company, valued at $187,483,905. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Zachman bought 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $51.28 per share, with a total value of $512,800.00. Following the completion of the purchase, the insider now owns 24,611 shares in the company, valued at approximately $1,262,052.08. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 212,588 shares of company stock valued at $10,882,275. 3.18% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in Bunge during the 2nd quarter valued at $202,000. HRT Financial LLC acquired a new stake in Bunge during the 4th quarter valued at $211,000. Mercer Global Advisors Inc. ADV acquired a new stake in Bunge during the 1st quarter valued at $222,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Bunge by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,489 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 439 shares during the last quarter. Finally, Dubuque Bank & Trust Co. lifted its holdings in Bunge by 16.3% during the 1st quarter. Dubuque Bank & Trust Co. now owns 4,729 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 664 shares during the last quarter. 80.19% of the stock is owned by institutional investors.

Shares of NYSE BG traded up $0.31 during trading hours on Friday, hitting $56.86. The company had a trading volume of 789,800 shares, compared to its average volume of 1,596,207. The stock has a market capitalization of $8.05 billion, a PE ratio of 20.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.66. Bunge has a 1-year low of $47.26 and a 1-year high of $72.35. The firm’s 50 day moving average price is $55.48.

Bunge (NYSE:BG) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.03 by $0.33. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $10.67 billion. Bunge had a return on equity of 7.81% and a net margin of 0.74%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. Equities research analysts expect that Bunge will post 2.78 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Monday, August 19th. Bunge’s payout ratio is presently 73.53%.

About Bunge

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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