AQR Capital Management LLC Purchases 184,245 Shares of Bunge Global SA (NYSE:BG)

AQR Capital Management LLC grew its position in Bunge Global SA (NYSE:BG) by 23.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 970,083 shares of the basic materials company’s stock after purchasing an additional 184,245 shares during the period. AQR Capital Management LLC owned approximately 0.69% of Bunge Global worth $103,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BG. Altshuler Shaham Ltd acquired a new stake in Bunge Global in the 2nd quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in shares of Bunge Global by 52.3% in the second 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 last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of Bunge Global by 185.2% in the second quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Bunge Global during the second quarter worth $40,000. Finally, Atlas Capital Advisors LLC boosted its holdings in Bunge Global by 261.3% during the second quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 277 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Up 1.2 %

Bunge Global stock opened at $95.85 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. The company’s 50-day moving average is $100.39 and its 200-day moving average is $103.12. The firm has a market capitalization of $13.57 billion, a PE ratio of 7.72 and a beta of 0.65. Bunge Global SA has a fifty-two week low of $86.10 and a fifty-two week high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly 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 for the quarter, compared to analyst estimates of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. Bunge Global’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period last year, the firm earned $3.72 EPS. Sell-side analysts anticipate 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 cut their price target for the stock from $125.00 to $114.00 in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.00.

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.