Sei Investments Co. Acquires 8,777 Shares of Bunge Global SA (NYSE:BG)

Sei Investments Co. increased its holdings in shares of Bunge Global SA (NYSE:BG) by 15.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 66,046 shares of the basic materials company’s stock after purchasing an additional 8,777 shares during the quarter. Sei Investments Co.’s holdings in Bunge Global were worth $7,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. grew its holdings in Bunge Global by 26.5% during the second quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after purchasing an additional 883,127 shares during the period. Intech Investment Management LLC grew its holdings in Bunge Global by 285.1% during the second quarter. Intech Investment Management LLC now owns 17,081 shares of the basic materials company’s stock valued at $1,824,000 after purchasing an additional 12,646 shares during the period. Inspire Investing LLC grew its holdings in Bunge Global by 133.1% during the second quarter. Inspire Investing LLC now owns 10,115 shares of the basic materials company’s stock valued at $1,080,000 after purchasing an additional 5,775 shares during the period. XTX Topco Ltd grew its holdings in Bunge Global by 432.4% during the second quarter. XTX Topco Ltd now owns 17,809 shares of the basic materials company’s stock valued at $1,901,000 after purchasing an additional 14,464 shares during the period. Finally, Elo Mutual Pension Insurance Co acquired a new position in Bunge Global during the second quarter valued at approximately $1,452,000. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Up 1.9 %

Bunge Global stock opened at $97.73 on Monday. The stock has a market capitalization of $13.84 billion, a PE ratio of 7.87 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 quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $100.11 and a 200-day moving average of $103.28.

Bunge Global (NYSE:BG) last announced its 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). 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 quarter in the previous year, the company posted $3.72 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Bunge Global SA will post 9.3 EPS 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.