Cullen Frost Bankers Inc. Purchases New Position in Bunge Global SA (NYSE:BG)

Cullen Frost Bankers Inc. acquired a new position in shares of Bunge Global SA (NYSE:BG) in the 2nd quarter, HoldingsChannel reports. The firm acquired 800 shares of the basic materials company’s stock, valued at approximately $85,000.

Several other large investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its stake in Bunge Global by 185.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after buying an additional 200 shares in the last quarter. National Bank of Canada FI increased its stake in Bunge Global by 5.8% during the 2nd quarter. National Bank of Canada FI now owns 37,129 shares of the basic materials company’s stock worth $3,971,000 after buying an additional 2,026 shares in the last quarter. Foster & Motley Inc. increased its stake in Bunge Global by 36.6% during the 2nd quarter. Foster & Motley Inc. now owns 35,292 shares of the basic materials company’s stock worth $3,768,000 after buying an additional 9,455 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Bunge Global during the 2nd quarter worth approximately $758,000. Finally, Deseret Mutual Benefit Administrators increased its stake in Bunge Global by 58.6% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 536 shares of the basic materials company’s stock worth $57,000 after buying an additional 198 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Bunge Global Trading Down 2.8 %

Shares of Bunge Global stock opened at $96.16 on Wednesday. The stock has a market cap of $13.62 billion, a P/E ratio of 7.74 and a beta of 0.65. The stock’s 50 day simple moving average is $103.59 and its 200-day simple moving average is $102.88. Bunge Global SA has a 1-year low of $86.10 and a 1-year high of $115.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the company posted $3.72 earnings per share. The company’s revenue was down 12.0% on a year-over-year basis. Analysts predict that Bunge Global SA will post 9.3 EPS for the current fiscal year.

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.