Prudential PLC Invests $1.03 Million in Bunge Global SA (NYSE:BG)

Prudential PLC purchased a new position in Bunge Global SA (NYSE:BG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,688 shares of the basic materials company’s stock, valued at approximately $1,034,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Bunge Global during the fourth quarter worth about $128,092,000. Vanguard Group Inc. boosted its holdings in Bunge Global by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after buying an additional 578,065 shares during the last quarter. LSV Asset Management boosted its holdings in Bunge Global by 33.4% during the first quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock worth $195,743,000 after buying an additional 478,559 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Bunge Global during the first quarter worth about $26,817,000. Finally, Franklin Resources Inc. boosted its holdings in Bunge Global by 320.0% during the fourth quarter. Franklin Resources Inc. now owns 244,648 shares of the basic materials company’s stock worth $24,708,000 after buying an additional 186,395 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and reduced 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 issued a buy rating to the company. Based on data from MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Trading Up 0.6 %

NYSE:BG opened at $96.48 on Friday. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week 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. The stock has a market capitalization of $13.66 billion, a PE ratio of 7.77 and a beta of 0.65. The business’s 50-day simple moving average is $103.06 and its 200-day simple moving average is $102.79.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the firm earned $3.72 EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. Sell-side analysts expect that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

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.