Short Interest in Bunge Limited (NYSE:BG) Grows By 5.7%

Bunge Limited (NYSE:BGGet Rating) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,050,000 shares, a growth of 5.7% from the August 15th total of 3,830,000 shares. Based on an average trading volume of 1,470,000 shares, the days-to-cover ratio is currently 2.8 days.

Bunge Stock Down 0.8 %

NYSE BG opened at $89.50 on Thursday. The stock has a fifty day moving average of $95.49 and a 200-day moving average of $103.93. The stock has a market capitalization of $13.59 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 1.08 and a beta of 0.55. Bunge has a 52 week low of $76.07 and a 52 week high of $128.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.71 and a current ratio of 1.51.

Bunge (NYSE:BGGet Rating) last released its earnings results on Wednesday, July 27th. The basic materials company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $17.93 billion during the quarter, compared to analyst estimates of $18.64 billion. Bunge had a net margin of 2.73% and a return on equity of 27.43%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted $2.61 earnings per share. On average, equities research analysts forecast that Bunge will post 12.65 EPS for the current year.

Bunge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.50 annualized dividend and a dividend yield of 2.79%. Bunge’s dividend payout ratio (DPR) is currently 21.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BG. BlackRock Inc. boosted its position in shares of Bunge by 19.1% in the 1st quarter. BlackRock Inc. now owns 12,304,121 shares of the basic materials company’s stock worth $1,363,417,000 after purchasing an additional 1,975,635 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Bunge by 64.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,701,518 shares of the basic materials company’s stock worth $252,214,000 after purchasing an additional 1,059,920 shares during the last quarter. Capital World Investors boosted its position in shares of Bunge by 6.2% in the 1st quarter. Capital World Investors now owns 17,109,705 shares of the basic materials company’s stock worth $1,895,926,000 after purchasing an additional 1,006,276 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Bunge in the 1st quarter worth $84,657,000. Finally, Vanguard Group Inc. lifted its holdings in Bunge by 5.2% during the first quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after acquiring an additional 696,806 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America upgraded Bunge from a “neutral” rating to a “buy” rating and cut their target price for the stock from $140.00 to $135.00 in a research report on Thursday, June 30th. StockNews.com downgraded Bunge from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. upgraded Bunge from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $130.00 to $106.00 in a research report on Thursday, July 7th. Credit Suisse Group cut their target price on Bunge from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Finally, Monness Crespi & Hardt assumed coverage on Bunge in a report on Wednesday, July 6th. They set a “buy” rating and a $130.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Bunge has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Bunge Company Profile

(Get Rating)

Bunge Limited operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 processes oilseeds into vegetable oils and protein meals.

Featured Stories

Receive News & Ratings for Bunge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bunge and related companies with MarketBeat.com's FREE daily email newsletter.