Sterling Capital Management LLC Buys Shares of 39,830 Bunge Ltd (BG)

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Sterling Capital Management LLC bought a new stake in shares of Bunge Ltd (NYSE:BG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 39,830 shares of the basic materials company’s stock, valued at approximately $2,737,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Bunge by 41.4% in the 2nd quarter. BlackRock Inc. now owns 12,076,742 shares of the basic materials company’s stock worth $841,871,000 after acquiring an additional 3,535,679 shares in the last quarter. Northern Trust Corp lifted its stake in Bunge by 13.3% in the 2nd quarter. Northern Trust Corp now owns 2,441,166 shares of the basic materials company’s stock worth $170,174,000 after acquiring an additional 285,782 shares in the last quarter. Fairpointe Capital LLC lifted its stake in Bunge by 2.8% in the 2nd quarter. Fairpointe Capital LLC now owns 1,512,152 shares of the basic materials company’s stock worth $105,413,000 after acquiring an additional 41,333 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Bunge by 81.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,429,997 shares of the basic materials company’s stock worth $99,685,000 after acquiring an additional 641,597 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Bunge by 67.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock worth $86,718,000 after acquiring an additional 502,598 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Shares of BG stock opened at $63.33 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. Bunge Ltd has a fifty-two week low of $61.26 and a fifty-two week high of $83.20. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 32.64 and a beta of 1.12.

Bunge (NYSE:BG) last issued its earnings results on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.13. Bunge had a return on equity of 7.84% and a net margin of 0.59%. The company had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the firm posted $0.75 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that Bunge Ltd will post 4.91 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Bunge from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Tuesday, July 24th. ValuEngine downgraded Bunge from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Citigroup reduced their price objective on Bunge from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Credit Suisse Group reduced their price objective on Bunge from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. Finally, BMO Capital Markets reduced their price objective on Bunge from $87.00 to $83.00 and set an “outperform” rating for the company in a research note on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $78.40.

In related news, Director L Patrick Lupo acquired 3,000 shares of the stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $62.71 per share, with a total value of $188,130.00. Following the acquisition, the director now owns 46,024 shares in the company, valued at approximately $2,886,165.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Boehlert acquired 3,200 shares of the stock in a transaction dated Monday, November 5th. The shares were bought at an average cost of $62.68 per share, for a total transaction of $200,576.00. Following the acquisition, the chief financial officer now owns 3,200 shares in the company, valued at approximately $200,576. The disclosure for this purchase can be found here. Corporate insiders own 1.25% of the company’s stock.

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About Bunge

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.

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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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