Shelton Capital Management Lowers Holdings in Bunge Global SA $BG

Shelton Capital Management decreased its position in shares of Bunge Global SA (NYSE:BG) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,926 shares of the basic materials company’s stock after selling 9,000 shares during the period. Shelton Capital Management’s holdings in Bunge Global were worth $2,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AE Wealth Management LLC raised its stake in shares of Bunge Global by 1,596.3% during the second quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock valued at $13,162,000 after acquiring an additional 154,279 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Bunge Global by 96.6% during the 2nd quarter. Acadian Asset Management LLC now owns 152,308 shares of the basic materials company’s stock worth $12,226,000 after acquiring an additional 74,836 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Bunge Global during the 2nd quarter worth $382,000. LSV Asset Management boosted its stake in Bunge Global by 2.1% in the 2nd quarter. LSV Asset Management now owns 2,135,862 shares of the basic materials company’s stock worth $171,467,000 after purchasing an additional 43,343 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of Bunge Global in the 2nd quarter valued at $3,279,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Price Performance

NYSE:BG opened at $96.37 on Tuesday. Bunge Global SA has a 12-month low of $67.40 and a 12-month high of $99.55. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 8.28 and a beta of 0.76. The company’s 50-day moving average is $91.08 and its two-hundred day moving average is $83.95. 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 (NYSE:BG) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. The business 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%.The company’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Research analysts expect that Bunge Global SA will post 7.94 EPS for the current year.

Insiders Place Their Bets

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the sale, the vice president directly owned 104,537 shares in the company, valued at approximately $9,865,156.69. The trade was a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BG has been the topic of several recent research reports. Morgan Stanley set a $95.00 price target on shares of Bunge Global in a report on Monday, October 27th. BMO Capital Markets lifted their price objective on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. Zacks Research raised shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bunge Global in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average 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.