Panagora Asset Management Inc. Has $1.40 Million Stake in Bunge Global SA (NYSE:BG)

Panagora Asset Management Inc. trimmed its position in shares of Bunge Global SA (NYSE:BG) by 35.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,108 shares of the basic materials company’s stock after selling 7,265 shares during the period. Panagora Asset Management Inc.’s holdings in Bunge Global were worth $1,400,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BG. Blue Trust Inc. lifted its holdings in shares of Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after buying an additional 102 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Bunge Global during the 1st quarter valued at about $46,000. Versant Capital Management Inc acquired a new stake in shares of Bunge Global during the 2nd quarter valued at about $48,000. Gladius Capital Management LP bought a new position in shares of Bunge Global in the 2nd quarter valued at approximately $49,000. Finally, Rise Advisors LLC raised its stake in shares of Bunge Global by 56.8% in the 1st quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 230 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Shares of NYSE BG opened at $101.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $104.81 and its two-hundred day moving average is $102.46. The company has a market cap of $14.35 billion, a P/E ratio of 8.16 and a beta of 0.67. Bunge Global SA has a 12 month low of $86.10 and a 12 month high of $115.84.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The business had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.72 earnings per share. On average, equities analysts expect that Bunge Global SA will post 9.4 EPS for the current year.

Analyst Ratings Changes

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

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.