Altshuler Shaham Ltd Takes $28,000 Position in Bunge Global SA (NYSE:BG)

Altshuler Shaham Ltd purchased a new position in shares of Bunge Global SA (NYSE:BG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 265 shares of the basic materials company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mather Group LLC. grew its stake in shares of Bunge Global by 12.4% during the second quarter. Mather Group LLC. now owns 843 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 93 shares during the last quarter. RFG Advisory LLC boosted its holdings in Bunge Global by 3.9% in the first quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company’s stock valued at $265,000 after acquiring an additional 96 shares during the last quarter. Blue Trust Inc. increased its position 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 during the period. CWM LLC raised its holdings in Bunge Global by 4.1% during the 1st quarter. CWM LLC now owns 2,778 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 110 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Bunge Global by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 5,761 shares of the basic materials company’s stock valued at $615,000 after purchasing an additional 111 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Trading Down 1.6 %

BG opened at $98.80 on Monday. The firm’s fifty day moving average is $101.61 and its two-hundred day moving average is $103.17. The firm has a market cap of $13.99 billion, a PE ratio of 7.95 and a beta of 0.65. Bunge Global SA has a twelve month low of $86.10 and a twelve month high of $114.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03.

Bunge Global (NYSE:BG) last issued its quarterly earnings data 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). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the business posted $3.72 EPS. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. Equities research analysts anticipate that Bunge Global SA will post 9.3 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and cut their price target 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 issued a buy rating to the stock. According to 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.