Edge Capital Group LLC Raises Stock Holdings in Bunge Global SA (NYSE:BG)

Edge Capital Group LLC grew its position in Bunge Global SA (NYSE:BG) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 99,648 shares of the basic materials company’s stock after acquiring an additional 3,815 shares during the period. Edge Capital Group LLC’s holdings in Bunge Global were worth $10,639,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Bunge Global by 26.5% in 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 last quarter. Vanguard Group Inc. boosted 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 worth $1,913,490,000 after purchasing an additional 578,065 shares in the last quarter. LSV Asset Management grew its stake in shares of 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 worth $195,743,000 after purchasing an additional 478,559 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Bunge Global during the 1st quarter valued at approximately $26,817,000. Finally, Franklin Resources Inc. lifted its stake in shares of Bunge Global by 320.0% in the 4th quarter. Franklin Resources Inc. now owns 244,648 shares of the basic materials company’s stock valued at $24,708,000 after purchasing an additional 186,395 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and cut 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Down 1.6 %

BG stock opened at $98.80 on Friday. Bunge Global SA has a 52 week low of $86.10 and a 52 week 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 firm has a 50-day simple moving average of $101.61 and a 200-day simple moving average of $103.09. The stock has a market capitalization of $13.99 billion, a P/E ratio of 7.95 and a beta of 0.65.

Bunge Global (NYSE:BG) last posted its quarterly earnings data 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 firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter last year, the firm posted $3.72 earnings per share. Bunge Global’s quarterly revenue was down 12.0% on a year-over-year basis. Equities analysts forecast that Bunge Global SA will post 9.3 earnings per share for the current fiscal year.

Bunge Global Company 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.