Wolverine Asset Management LLC lowered its position in shares of Bunge Ltd (NYSE:BG) by 31.8% in the 4th quarter, Holdings Channel reports. The firm owned 23,870 shares of the basic materials company’s stock after selling 11,127 shares during the quarter. Wolverine Asset Management LLC’s holdings in Bunge were worth $1,601,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of Bunge by 127.8% in the third quarter. Advisor Group Inc. now owns 1,499 shares of the basic materials company’s stock worth $104,000 after buying an additional 841 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Bunge in the fourth quarter worth about $101,000. Cerebellum GP LLC purchased a new position in shares of Bunge in the fourth quarter worth about $129,000. American International Group Inc. purchased a new position in shares of Bunge in the fourth quarter worth about $197,000. Finally, KCS Wealth Advisory purchased a new position in shares of Bunge in the fourth quarter worth about $200,000. 79.37% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Bunge from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a report on Wednesday, March 7th. Citigroup upgraded Bunge from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $77.99 to $89.00 in a report on Tuesday, March 6th. Zacks Investment Research upgraded Bunge from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 30th. Credit Suisse Group set a $84.00 price objective on Bunge and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Stephens upgraded Bunge from an “equal weight” rating to an “overweight” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Bunge has an average rating of “Buy” and an average price target of $85.86.
Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.81). Bunge had a net margin of 0.35% and a return on equity of 4.36%. The business had revenue of $11.61 billion for the quarter, compared to analysts’ expectations of $12.57 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. equities analysts forecast that Bunge Ltd will post 3.9 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Bunge Ltd (BG) Shares Sold by Wolverine Asset Management LLC” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.themarketsdaily.com/2018/03/12/bunge-ltd-bg-shares-sold-by-wolverine-asset-management-llc.html.
Bunge Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
Want to see what other hedge funds are holding BG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bunge Ltd (NYSE:BG).
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.