Millennium Management LLC Has $13.85 Million Stake in Bunge Ltd (NYSE:BG)

Millennium Management LLC reduced its stake in Bunge Ltd (NYSE:BG) by 56.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,625 shares of the basic materials company’s stock after selling 318,216 shares during the quarter. Millennium Management LLC owned 0.17% of Bunge worth $13,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BG. Usca Ria LLC bought a new position in Bunge in the third quarter valued at $45,000. Penserra Capital Management LLC raised its holdings in Bunge by 88.8% during the third quarter. Penserra Capital Management LLC now owns 906 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 426 shares in the last quarter. Advisory Services Network LLC raised its holdings in Bunge by 756.0% during the second quarter. Advisory Services Network LLC now owns 1,070 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 945 shares in the last quarter. Trust Co. of Vermont boosted its position in Bunge by 333.3% during the second quarter. Trust Co. of Vermont now owns 1,300 shares of the basic materials company’s stock valued at $72,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Bunge by 8,370.6% in the second quarter. Rockefeller Capital Management L.P. now owns 1,440 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 1,423 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Credit Suisse Group restated a “buy” rating on shares of Bunge in a report on Monday, November 4th. TheStreet cut shares of Bunge from a “b-” rating to a “c-” rating in a report on Wednesday, October 30th. Stephens initiated coverage on shares of Bunge in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $74.00 target price for the company. Zacks Investment Research upgraded Bunge from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, ValuEngine cut Bunge from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $70.00.

In related news, insider Jerry Matthews Simmons, Jr. sold 1,786 shares of Bunge stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $54.65, for a total transaction of $97,604.90. Following the completion of the sale, the insider now owns 11,323 shares of the company’s stock, valued at approximately $618,801.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.18% of the company’s stock.

Shares of Bunge stock opened at $53.51 on Friday. The business has a fifty day simple moving average of $54.73 and a two-hundred day simple moving average of $55.29. Bunge Ltd has a 1 year low of $47.26 and a 1 year high of $62.92. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 19.67 and a beta of 0.86. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.47 and a quick ratio of 0.73.

Bunge (NYSE:BG) last released its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.87. The firm had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $11.14 billion. Bunge had a negative net margin of 3.09% and a positive return on equity of 9.31%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.52 earnings per share. As a group, equities analysts anticipate that Bunge Ltd will post 2.95 earnings per share for the current fiscal year.

About Bunge

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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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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