Envestnet Asset Management Inc. Acquires 19,095 Shares of Bunge Global SA (NYSE:BG)

Envestnet Asset Management Inc. raised its holdings in shares of Bunge Global SA (NYSE:BG) by 17.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,647 shares of the basic materials company’s stock after purchasing an additional 19,095 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Bunge Global worth $13,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Mather Group LLC. increased its stake in Bunge Global by 12.4% in the 2nd quarter. Mather Group LLC. now owns 843 shares of the basic materials company’s stock worth $86,000 after buying an additional 93 shares during the period. RFG Advisory LLC increased its position in Bunge Global by 3.9% during the 1st quarter. RFG Advisory LLC now owns 2,589 shares of the basic materials company’s stock valued at $265,000 after purchasing an additional 96 shares during the period. Blue Trust Inc. increased its position in Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 102 shares during the period. CWM LLC increased its position in Bunge Global by 4.1% during the 1st quarter. CWM LLC now owns 2,778 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 110 shares during the period. Finally, Ballentine Partners LLC increased its position in Bunge Global by 2.0% during the 2nd quarter. Ballentine Partners LLC now owns 5,761 shares of the basic materials company’s stock valued at $615,000 after purchasing an additional 111 shares during the period. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Down 2.4 %

BG stock opened at $94.72 on Thursday. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $114.92. The firm has a 50 day moving average of $100.72 and a 200 day moving average of $103.18. The stock has a market capitalization of $13.41 billion, a PE ratio of 7.63 and a beta of 0.65.

Bunge Global (NYSE:BG) last announced 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 net margin of 2.33% and a return on equity of 14.84%. The business had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm posted $3.72 earnings per share. The business’s revenue was down 12.0% on a year-over-year basis. Sell-side analysts forecast that Bunge Global SA will post 9.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average 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.