Cornerstone Select Advisors LLC Lowers Stock Holdings in Bunge Global SA $BG

Cornerstone Select Advisors LLC lessened its stake in Bunge Global SA (NYSE:BG) by 31.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,539 shares of the basic materials company’s stock after selling 2,075 shares during the period. Cornerstone Select Advisors LLC’s holdings in Bunge Global were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in shares of Bunge Global by 9.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,360 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 121 shares during the last quarter. Public Sector Pension Investment Board grew its position in Bunge Global by 0.9% in the 1st quarter. Public Sector Pension Investment Board now owns 17,288 shares of the basic materials company’s stock valued at $1,321,000 after buying an additional 149 shares during the last quarter. Retirement Systems of Alabama increased its stake in Bunge Global by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 28,841 shares of the basic materials company’s stock valued at $2,315,000 after buying an additional 157 shares during the period. Moors & Cabot Inc. raised its position in Bunge Global by 2.1% during the 1st quarter. Moors & Cabot Inc. now owns 7,690 shares of the basic materials company’s stock worth $588,000 after buying an additional 158 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Bunge Global by 4.0% in the 2nd quarter. Greenleaf Trust now owns 4,221 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 164 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

BG opened at $94.55 on Friday. Bunge Global SA has a 1-year low of $67.40 and a 1-year high of $99.55. The stock has a market cap of $18.28 billion, a P/E ratio of 9.45, a P/E/G ratio of 8.28 and a beta of 0.76. The stock’s 50 day simple moving average is $89.20 and its 200 day simple moving average is $83.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.07 and a quick ratio of 1.29.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BG shares. Zacks Research upgraded shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. CICC Research boosted their target price on Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their price target on Bunge Global from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Morgan Stanley set a $95.00 price target on Bunge Global in a research note on Monday, October 27th. Finally, BMO Capital Markets increased their price objective on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.88.

About Bunge Global

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.