Bunge Global SA (NYSE:BG) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its stake in shares of Bunge Global SA (NYSE:BG) by 4.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 42,832 shares of the basic materials company’s stock after purchasing an additional 1,919 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bunge Global were worth $4,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Bunge Global by 3.1% during 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 during the period. LSV Asset Management grew its position in shares of Bunge Global by 10.7% during 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 during the period. Norges Bank acquired a new stake in shares of Bunge Global during the 4th quarter valued at about $128,092,000. Acadian Asset Management LLC grew its position in shares of Bunge Global by 4.0% during the 1st quarter. Acadian Asset Management LLC now owns 702,095 shares of the basic materials company’s stock valued at $71,965,000 after acquiring an additional 27,235 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Bunge Global by 9.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 449,561 shares of the basic materials company’s stock valued at $48,000,000 after acquiring an additional 39,132 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and lowered their price objective 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 issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Bunge Global Trading Up 0.4 %

BG stock opened at $97.69 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average is $102.57 and its 200 day moving average is $102.97. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $114.92. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 7.87 and a beta of 0.65.

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). 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 during the quarter, compared to analysts’ expectations of $14.30 billion. During the same period last year, the business earned $3.72 earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, sell-side 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.