Stock Traders Buy High Volume of Put Options on Bunge (BG)

Bunge Limited (NYSE:BG) saw unusually large options trading on Thursday. Investors acquired 5,911 put options on the company. This is an increase of approximately 1,321% compared to the average daily volume of 416 put options.

NYSE BG opened at $70.69 on Friday. Bunge has a twelve month low of $70.40 and a twelve month high of $71.14. The company has a quick ratio of 0.75, a current ratio of 1.56 and a debt-to-equity ratio of 0.83. The stock has a market cap of $9.93 billion, a P/E ratio of 36.44 and a beta of 1.15.

Bunge (NYSE:BG) last posted its quarterly earnings data on Wednesday, May 2nd. The basic materials company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.10. Bunge had a return on equity of 3.55% and a net margin of 0.20%. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. analysts expect that Bunge will post 4.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 4th. Shareholders of record on Wednesday, March 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $1.84 annualized dividend and a yield of 2.60%. Bunge’s dividend payout ratio (DPR) is 94.85%.

A number of institutional investors have recently bought and sold shares of BG. Marathon Asset Management LLP raised its holdings in Bunge by 17.5% in the 4th quarter. Marathon Asset Management LLP now owns 1,107,221 shares of the basic materials company’s stock valued at $74,276,000 after acquiring an additional 165,122 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Bunge in the 4th quarter valued at approximately $760,000. State of Alaska Department of Revenue raised its holdings in Bunge by 66.2% in the 4th quarter. State of Alaska Department of Revenue now owns 23,076 shares of the basic materials company’s stock valued at $1,547,000 after acquiring an additional 9,190 shares in the last quarter. P.R. Herzig & Co. Inc. raised its holdings in Bunge by 16.1% in the 4th quarter. P.R. Herzig & Co. Inc. now owns 24,125 shares of the basic materials company’s stock valued at $1,618,000 after acquiring an additional 3,350 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in Bunge in the 4th quarter valued at approximately $129,000. 78.55% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on BG shares. Zacks Investment Research raised Bunge from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. JPMorgan Chase raised Bunge from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research report on Wednesday, March 7th. Credit Suisse Group cut their price objective on Bunge from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Citigroup boosted their price objective on Bunge to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Finally, Stephens raised Bunge from an “equal weight” rating to an “overweight” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $85.57.

Bunge Company Profile

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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