MMA Asset Management LLC Takes Position in Bunge Global SA $BG

MMA Asset Management LLC bought a new position in shares of Bunge Global SA (NYSE:BG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,885 shares of the basic materials company’s stock, valued at approximately $312,000.

A number of other hedge funds also recently modified their holdings of BG. Cromwell Holdings LLC increased its stake in Bunge Global by 4,175.0% in the second quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 334 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Bunge Global during the 2nd quarter worth approximately $29,000. Manchester Capital Management LLC increased its holdings 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 purchasing an additional 359 shares during the period. SVB Wealth LLC bought a new position in shares of Bunge Global during the first quarter worth about $38,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Bunge Global by 197.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 514 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 341 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. lifted their target price on Bunge Global from $95.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Morgan Stanley set a $95.00 target price on Bunge Global in a research note on Monday, October 27th. Barclays boosted their price target on shares of Bunge Global from $85.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.43.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, Director Christopher Mahoney purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $81.73 per share, with a total value of $408,650.00. Following the transaction, the director directly owned 7,164 shares in the company, valued at approximately $585,513.72. The trade was a 231.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by corporate insiders.

Bunge Global Price Performance

BG stock opened at $94.64 on Monday. The firm’s 50-day moving average price is $85.80 and its two-hundred day moving average price is $81.61. The stock has a market capitalization of $18.93 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 8.28 and a beta of 0.66. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55.

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.