Czech National Bank Boosts Stock Position in Bunge Global SA (NYSE:BG)

Czech National Bank increased its stake in Bunge Global SA (NYSE:BG) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,855 shares of the basic materials company’s stock after buying an additional 1,872 shares during the period. Czech National Bank’s holdings in Bunge Global were worth $2,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BG. Vanguard Group Inc. lifted its position 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 valued at $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. Pacer Advisors Inc. lifted its position in Bunge Global by 26.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after acquiring an additional 883,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Bunge Global by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,282,006 shares of the basic materials company’s stock valued at $243,664,000 after acquiring an additional 121,080 shares in the last quarter. LSV Asset Management lifted its position in Bunge Global by 10.7% in the 2nd quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock valued at $225,629,000 after acquiring an additional 203,910 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Bunge Global by 23.4% in the 2nd quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock valued at $103,576,000 after acquiring an additional 184,245 shares in the last quarter. Hedge funds and other institutional investors 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 lowered their price objective for the company from $125.00 to $114.00 in a research 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’s stock. According to MarketBeat.com, Bunge Global presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Price Performance

NYSE BG opened at $96.97 on Friday. The business’s fifty day moving average price is $97.60 and its 200-day moving average price is $103.20. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 7.81 and a beta of 0.64. 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.

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 analysts’ consensus estimates 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 the consensus estimate of $14.30 billion. During the same period in the prior year, the business posted $3.72 earnings per share. Bunge Global’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, equities analysts predict that Bunge Global SA will post 9.3 earnings per share for the current 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.