Renaissance Technologies LLC Lowers Stock Position in Bunge Ltd (NYSE:BG)

Renaissance Technologies LLC reduced its stake in shares of Bunge Ltd (NYSE:BG) by 39.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 902,200 shares of the basic materials company’s stock after selling 584,700 shares during the period. Renaissance Technologies LLC owned 0.64% of Bunge worth $50,262,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BG. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Bunge by 108.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232,382 shares of the basic materials company’s stock valued at $12,804,000 after acquiring an additional 120,761 shares during the period. Fiera Capital Corp raised its stake in Bunge by 30.2% during the 2nd quarter. Fiera Capital Corp now owns 57,400 shares of the basic materials company’s stock valued at $3,198,000 after purchasing an additional 13,300 shares during the period. CENTRAL TRUST Co raised its stake in Bunge by 3,416.1% during the 2nd quarter. CENTRAL TRUST Co now owns 6,540 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 6,354 shares during the period. Maso Capital Partners Ltd raised its stake in Bunge by 49.0% during the 1st quarter. Maso Capital Partners Ltd now owns 134,271 shares of the basic materials company’s stock valued at $7,126,000 after purchasing an additional 44,171 shares during the period. Finally, ARP Americas LP purchased a new position in Bunge in the 2nd quarter worth approximately $1,794,000. Institutional investors own 79.88% of the company’s stock.

In other news, Director Grain Co Continental acquired 20,000 shares of Bunge stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of $52.27 per share, with a total value of $1,045,400.00. Following the purchase, the director now directly owns 3,931,155 shares in the company, valued at approximately $205,481,471.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.18% of the company’s stock.

Shares of BG traded up $0.40 during midday trading on Wednesday, hitting $57.39. 10,136 shares of the company traded hands, compared to its average volume of 876,541. The firm has a 50 day moving average of $55.26 and a 200-day moving average of $53.89. Bunge Ltd has a 52 week low of $47.26 and a 52 week high of $72.35. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 21.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 1.49.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.48%. Bunge’s dividend payout ratio is presently 73.53%.

A number of equities research analysts have issued reports on BG shares. Zacks Investment Research lowered shares of Bunge from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. TheStreet upgraded shares of Bunge from a “c+” rating to a “b” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average 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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Institutional Ownership by Quarter for Bunge (NYSE:BG)

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