XTX Topco Ltd Boosts Stake in Bunge Global SA (NYSE:BG)

XTX Topco Ltd increased its position in Bunge Global SA (NYSE:BG) by 432.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,809 shares of the basic materials company’s stock after purchasing an additional 14,464 shares during the quarter. XTX Topco Ltd’s holdings in Bunge Global were worth $1,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Bunge Global by 52.3% in the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 102 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Bunge Global by 185.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 200 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Bunge Global in the 2nd quarter worth about $40,000. Atlas Capital Advisors LLC lifted its position in Bunge Global by 261.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 277 shares during the period. Finally, Riverview Trust Co bought a new stake in Bunge Global during the first quarter worth about $46,000. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Stock Performance

Shares of Bunge Global stock opened at $100.36 on Friday. Bunge Global SA has a 1 year low of $86.10 and a 1 year high of $114.92. The firm’s 50-day moving average is $102.06 and its 200 day moving average is $102.96. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 8.08 and a beta of 0.65. 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 issued its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.06). The firm 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 company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.72 EPS. Sell-side analysts anticipate that Bunge Global SA will post 9.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $114.00 in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Company 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.