B. Riley Wealth Advisors Inc. Takes $3.02 Million Position in Bunge Global SA (NYSE:BG)

B. Riley Wealth Advisors Inc. acquired a new position in Bunge Global SA (NYSE:BG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,323 shares of the basic materials company’s stock, valued at approximately $3,024,000.

A number of other hedge funds have also bought and sold shares of BG. Pacer Advisors Inc. lifted its position in shares of 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 worth $449,614,000 after acquiring an additional 883,127 shares in the last quarter. Millennium Management LLC lifted its holdings in Bunge Global by 12,617.1% during the 2nd quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after purchasing an additional 878,653 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bunge Global by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after purchasing an additional 578,065 shares during the period. LSV Asset Management grew its holdings in Bunge Global by 33.4% during the 1st quarter. LSV Asset Management now owns 1,909,319 shares of the basic materials company’s stock valued at $195,743,000 after buying an additional 478,559 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Bunge Global during the first quarter valued at about $26,817,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price target 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, the company has an average rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Trading Up 1.1 %

Shares of Bunge Global stock opened at $97.68 on Wednesday. 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 SA has a 1 year low of $86.10 and a 1 year high of $114.92. The firm has a market cap of $13.83 billion, a PE ratio of 7.86 and a beta of 0.65. The company has a 50 day simple moving average of $99.52 and a two-hundred day simple moving average of $103.31.

Bunge Global (NYSE:BG) last announced 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). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The company had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter last year, the firm posted $3.72 earnings per share. The firm’s revenue was down 12.0% on a year-over-year basis. Analysts expect that Bunge Global SA will post 9.3 earnings per share 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.