Bunge Global SA $BG Position Lessened by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Bunge Global SA (NYSE:BG) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,667,203 shares of the basic materials company’s stock after selling 9,034 shares during the quarter. Vanguard Group Inc. owned approximately 12.40% of Bunge Global worth $1,338,043,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BG. Cromwell Holdings LLC grew its stake in shares of Bunge Global by 4,175.0% in the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after buying an additional 334 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Bunge Global during the second quarter valued at approximately $29,000. Manchester Capital Management LLC lifted its stake in Bunge Global by 588.5% in the first quarter. Manchester Capital Management LLC now owns 420 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 359 shares during the last quarter. SVB Wealth LLC bought a new stake in Bunge Global in the first quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Bunge Global by 197.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 341 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Price Performance

Shares of NYSE:BG opened at $94.55 on Friday. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 8.28 and a beta of 0.76. The business has a 50 day moving average price of $89.20 and a 200 day moving average price of $83.22. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $99.55.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $22.46 billion. During the same period in the previous year, the business posted $2.29 EPS. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. Research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on BG shares. Zacks Research raised shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bunge Global in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. BMO Capital Markets upped their target price on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $105.00 to $120.00 in a report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.88.

Bunge Global Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.