Investors Buy Large Volume of Bunge Put Options (BG)

Bunge Limited (NYSE:BG) was the target of some unusual options trading activity on Thursday. Stock investors acquired 5,911 put options on the stock. This represents an increase of 1,321% compared to the average volume of 416 put options.

Several analysts have recently weighed in on BG shares. Stephens upgraded shares of Bunge from an “equal weight” rating to an “overweight” rating in a research report on Thursday, February 15th. ValuEngine lowered shares of Bunge from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Bunge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Piper Jaffray restated a “buy” rating on shares of Bunge in a research report on Thursday, February 15th. Finally, Credit Suisse Group restated a “buy” rating and issued a $84.00 price target on shares of Bunge in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $85.57.

Several hedge funds have recently made changes to their positions in BG. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Bunge during the fourth quarter worth approximately $107,544,000. ING Groep NV lifted its position in shares of Bunge by 13,050.0% during the fourth quarter. ING Groep NV now owns 684,983 shares of the basic materials company’s stock worth $45,949,000 after purchasing an additional 679,774 shares in the last quarter. Farallon Capital Management LLC lifted its position in shares of Bunge by 557.1% during the first quarter. Farallon Capital Management LLC now owns 690,000 shares of the basic materials company’s stock worth $51,019,000 after purchasing an additional 585,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Bunge by 397.8% during the fourth quarter. Renaissance Technologies LLC now owns 633,600 shares of the basic materials company’s stock worth $42,502,000 after purchasing an additional 506,318 shares in the last quarter. Finally, Alpine Associates Management Inc. acquired a new position in shares of Bunge during the first quarter worth approximately $36,145,000. Institutional investors own 78.55% of the company’s stock.

Bunge opened at $69.66 on Friday, MarketBeat.com reports. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 35.91 and a beta of 1.15. Bunge has a 12 month low of $63.87 and a 12 month high of $83.75. The company has a current ratio of 1.56, a quick ratio of 0.75 and a debt-to-equity ratio of 0.83.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Wednesday, March 21st will be given a dividend of $0.46 per share. The ex-dividend date is Friday, May 18th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.64%. Bunge’s payout ratio is 94.85%.

About Bunge

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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