Short Interest in Bunge Ltd (NYSE:BG) Declines By 24.8%

Bunge Ltd (NYSE:BG) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,684,300 shares, a decline of 24.8% from the July 31st total of 3,567,700 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 2.2 days.

Shares of NYSE:BG traded down $0.67 during midday trading on Friday, reaching $56.83. The company’s stock had a trading volume of 2,088,144 shares, compared to its average volume of 1,454,890. The firm has a 50 day moving average of $55.27 and a 200-day moving average of $53.92. The firm has a market capitalization of $8.07 billion, a P/E ratio of 20.89 and a beta of 0.88. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. Bunge has a 12-month low of $47.26 and a 12-month high of $72.35.

Bunge (NYSE:BG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $1.20. The company had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $12 billion. Bunge had a net margin of 1.30% and a return on equity of 11.39%. Bunge’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. On average, research analysts predict that Bunge will post 3.62 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.52%. Bunge’s payout ratio is 73.53%.

In other Bunge news, Director Grain Co Continental acquired 20,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $52.27 per share, for a total transaction of $1,045,400.00. Following the acquisition, the director now owns 3,931,155 shares in the company, valued at approximately $205,481,471.85. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.18% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC purchased a new stake in Bunge during the second quarter valued at $117,628,000. Price T Rowe Associates Inc. MD increased its position in Bunge by 10.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,472,099 shares of the basic materials company’s stock valued at $806,241,000 after acquiring an additional 1,423,416 shares during the last quarter. FIL Ltd increased its position in Bunge by 223.5% during the first quarter. FIL Ltd now owns 1,766,886 shares of the basic materials company’s stock valued at $93,768,000 after acquiring an additional 1,220,696 shares during the last quarter. Vanguard Group Inc. increased its position in Bunge by 5.8% in the second quarter. Vanguard Group Inc. now owns 13,515,089 shares of the basic materials company’s stock worth $752,925,000 after buying an additional 746,791 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its position in Bunge by 512.4% in the second quarter. Balyasny Asset Management LLC now owns 808,517 shares of the basic materials company’s stock worth $45,042,000 after buying an additional 676,487 shares in the last quarter. Institutional investors and hedge funds own 79.88% of the company’s stock.

Several research analysts recently commented on BG shares. TheStreet raised shares of Bunge from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded shares of Bunge from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Bunge has a consensus rating of “Hold” and a consensus price target of $71.50.

Bunge Company Profile

Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.

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