Simplicity Wealth LLC Sells 35,483 Shares of Bunge Global SA (NYSE:BG)

Simplicity Wealth LLC reduced its stake in Bunge Global SA (NYSE:BG) by 90.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,955 shares of the basic materials company’s stock after selling 35,483 shares during the period. Simplicity Wealth LLC’s holdings in Bunge Global were worth $382,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BG. SteelPeak Wealth LLC purchased a new position in shares of Bunge Global in the first quarter valued at $2,137,000. Avantax Advisory Services Inc. purchased a new position in shares of Bunge Global in the 1st quarter worth $899,000. Chevy Chase Trust Holdings LLC increased its holdings in shares of Bunge Global by 2,975.7% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock worth $8,249,000 after buying an additional 77,844 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Bunge Global by 17.9% during the 1st quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock valued at $4,247,000 after buying an additional 6,281 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Bunge Global by 22,962.5% in the 1st quarter. AdvisorNet Financial Inc now owns 7,380 shares of the basic materials company’s stock valued at $757,000 after acquiring an additional 7,348 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Trading Up 0.9 %

BG opened at $96.97 on Monday. Bunge Global SA has a one year low of $86.10 and a one year 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. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 7.81 and a beta of 0.64. The stock’s 50 day moving average price is $97.60 and its 200-day moving average price is $103.20.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). The business had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.72 EPS. On average, equities analysts forecast that Bunge Global SA will post 9.3 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

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.