Bunge Limited (NYSE:BG) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in shares of Bunge Limited (NYSE:BGGet Rating) by 91.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,948 shares of the basic materials company’s stock after selling 445,706 shares during the period. Bank of Nova Scotia’s holdings in Bunge were worth $3,895,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Capital World Investors boosted its stake in 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 buying an additional 1,006,276 shares during the last quarter. Vanguard Group Inc. boosted its stake in Bunge by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after buying an additional 696,806 shares during the last quarter. BlackRock Inc. boosted its stake in 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 buying an additional 1,975,635 shares during the last quarter. State Street Corp boosted its stake in Bunge by 6.4% in the 1st quarter. State Street Corp now owns 4,182,611 shares of the basic materials company’s stock worth $463,059,000 after buying an additional 249,813 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Bunge by 10.4% in the 2nd quarter. Van ECK Associates Corp now owns 1,120,028 shares of the basic materials company’s stock worth $101,575,000 after buying an additional 105,605 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

Bunge Stock Performance

Shares of NYSE:BG opened at $99.76 on Wednesday. The company has a market cap of $14.94 billion, a P/E ratio of 10.15, a PEG ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 1.63. Bunge Limited has a one year low of $80.41 and a one year high of $128.40. The business’s 50-day simple moving average is $92.07 and its 200 day simple moving average is $97.74.

Bunge (NYSE:BGGet Rating) last announced its earnings results on Wednesday, October 26th. The basic materials company reported $3.45 EPS for the quarter, beating the consensus estimate of $2.59 by $0.86. The business had revenue of $16.76 billion for the quarter, compared to the consensus estimate of $15.73 billion. Bunge had a return on equity of 25.11% and a net margin of 2.22%. The company’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the business posted $3.72 EPS. On average, sell-side analysts forecast that Bunge Limited will post 13.89 earnings per share for the current fiscal year.

Insider Activity at Bunge

In related news, insider Julio Garros sold 1,017 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $103.90, for a total transaction of $105,666.30. Following the sale, the insider now directly owns 53,780 shares in the company, valued at approximately $5,587,742. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

BG has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Bunge in a research note on Friday, August 12th. They issued an “outperform” rating and a $127.00 price target on the stock. TheStreet raised Bunge from a “c+” rating to a “b” rating in a research note on Wednesday, October 26th. Bank of America reduced their price objective on Bunge from $138.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Finally, StockNews.com raised Bunge from a “hold” rating to a “buy” rating in a research note on Thursday, October 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.71.

Bunge Profile

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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.

See Also

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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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